Section 4(1) in Andhra Pradesh Electricity Regulatory Commission (Treatment of Other Businesses of Transmission Licensees and Distribution Licensees) Regulation, 2005
(1)The Licensee shall for each of the Other Business(a)maintain separate accounting records, such as amount of revenue, costs, assets, liabilities, reserves, or provisions which have been charged from or to the Other Business. He the charge or its determination by apportionment shall maintain a description of the basis for the charge or its determination by apportionment or allocation between the various business activities;(b)prepare on a consistent basis from such records accounting statements for each financial year comprising a profit and loss account, a balance sheet and a statement of sources and application of funds;(c)provide in respect of the accounting statements prepared, a report by the Auditors in respect of each financial year, stating whether in their opinion the statements have been properly prepared and give a true and fair view of the revenue, costs, assets, liabilities, reserves and provisions reasonably attributable to the business to which the statements relate;(d)submit copies of the accounting statements and Auditor's report not later than six months after the close of the financial year to which they relate; and(e)submit to the Commission such additional information that the Commission require from time to time.
