Section 21 in The Industrial Development Bank Of India Act, 1964
21. Preparation of accounts and balance-sheet
.-(1) The balance-sheet and accounts of the Development Bank shall be prepared in such form and manner as may be prescribed.(2)The Board shall cause the books and accounts of the Development Bank to be closed and balanced as on the 30th day of June each year [or such other date, as the Central Government may, by notification in the Official Gazette, appoint]:[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this sub-section, the Central Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the closing and balancing of, or for other matters relating to, the books or accounts in respect of the concerned years.] [ Inserted by Act 66 of 1988, Section 29 (w.e.f. 30.12.1988).]
