Section 32(1) in The State Agricultural Credit Corporations Act, 1968
(1)The accounts of the Corporation shall be audited by an auditor duly qualified to act as auditor under sub-section (1) of section 226 of the Companies Act, 1956 (1 of 1956) who shall be appointed by the Board with the previous approval of the Reserve Bank and shall receive such remuneration from the Corporation as the Board may with the approval of the Reserve Bank, fix:Provided that the first auditor shall be appointed by the Central Government within one month from the establishment of Corporation on such terms and conditions as the Central Government may determine.
