Section 20 in The Energy Conservation (Partial Risk Guarantee Fund for Energy Efficiency) Rules, 2016
20. Accounts and Audit.
(1)The Bureau shall maintain true and correct accounts of all monies and of all the income and expenditure made out of Partial Risk Guarantee Fund for Energy Efficiency.(2)The implementing agency shall maintain true and correct accounts of the guarantee money committed and released under the Partial Risk Guarantee Fund for Energy Efficiency and the records of other expenditure like measurement and verification and other expenditure and interest accrued on the fund.(3)The Bureau shall release ninety five percent of the existing Partial Risk Guarantee Fund for Energy Efficiency corpus to implementing agency and seek status of guarantees committed or released quarterly from the implementing agency every quarter.(4)The implementing agency shall open a separate account for Partial Risk Guarantee Fund for Energy Efficiency fund and shall track all details of interest and utilisation or commitment. Implementing agency shall deposit interest on corpus amount to the Bureau for meeting administrative expense.(5)The administrative expense shall include the fees of implementing agency, media or workshop or seminar or conference cost, measurement and verification cost, for empanelment process of financial institutions, measurement and verification agency, expense of project team of the Bureau and other administrative cost.(6)The Implementing Agency shall each year issue an audited report setting out the accounts showing the income and expenditure under the Partial Risk Guarantee Fund for Energy Efficiency for the preceding year not later than six months from the end of the preceding year of accounts.(7)The year of account shall be the financial year commencing from the 1st April and ending on the 31st March of the subsequent year.(8)The accounts of the fund shall be audited every year by the Comptroller and Auditor General of India and the audited statement of accounts together with report of the auditor shall be laid before the Supervisory Committee for approval.
