(1)The annual accounts of the University shall be prepared under the direction of the Syndicate and shall be submitted to the State Government for audit.(2)[ The Syndicate shall, after the accounts are audited, submit a copy thereof alongwith a copy of the Audit Report to the Senate and to the State Government.] [Sub-section (2) was substituted for the original by Bombay 46 of 1959, section 3, Schedule](3)The Syndicate shall also prepare, before such date as may be prescribed by the Statutes, the financial estimates for the ensuing year. The annual accounts and the financial estimates shall be considered by the Senate at its annual meeting and may be passed with such modifications as the Senate may deem fit.
