Section 16 in The Punjab Ex-servicemen Corporation (General) Rules, 1982
16. Annual accounts and balance sheet.
(1)The Managing Director shall, not later than three months after the close of the financial year, lay before the Board of Directors :-(a)a balance sheet as at the end of the financial year; and(b)profit and loss account for the financial year authenticated by the Financial Controller.Explanation. - For the purposes of sub-rule (1) of rule 16, the expression, "Financial Controller" means the person authorised by the Board to exercise the powers of Financial Controller; and the expression "Financial year" means the period of twelve calendar months beginning with the first day of April of the preceding year.
