Section 54 in The Maharaja Krishnakumarsinhji Bhavnagar University Act, 1978
54. Annual Accounts and Financial estimates.
(1)The annual accounts of the University shall be prepared under the direction of the Executive Council and shall be submitted to be the State Government for audit.(2)The Executive Council shall, after the accounts are audited, submit a copy thereof along with a copy of the audit report to the Court and to the State Government.(3)The Executive Council shall, having regard to the Government grants that are likely to be available, prepare before such date as may be prescribed by the Statutes the financial estimates for the ensuing year.(4)The annual accounts and the financial estimates shall be considered by the Court at its annual meeting and the Court may pass resolutions with reference thereto and communicate the same to the Executive Council which shall take them into consideration and take such action thereon as it thinks fit and finally adopt the accounts and financial estimates. The Executive Council shall inform the Court at its next meeting of the action taken by it or if no action is taken of its reasons for taking no action.
