(1)The annual accounts and balance-sheet of the University shall be prepared under the directions of the Executive Council and shall once at least every year and at intervals of not more than fifteen months be audited by the Comptroller and Auditor General of India.(2)The annual accounts when audited shall be published in the Official Gazette and a copy of the Accounts together with the report of the Comptroller and Auditor General shall be submitted to the [Court] [Substituted by the Amendment Act 15 of 1988.] and the [Chancellor] [Substituted by the Amendment Act 3 of 2000.] alongwith the observations of the Executive Council.(3)[ Any observations made by the [Chancellor] [Substituted by the Amendment Act 15 of 1988.] on the annual account shall be considered by the Executive Council and its explanation/clarification thereon shall be submitted to the [Chancellor] [Substituted by the Amendment Act 3 of 2000.].](4)A copy of the accounts together with the report of the Comptroller and Auditor- -General of India, as submitted to the [Chancellor] [Substituted by the Amendment Act 3 of 2000.], shall also be submitted to the Government which shall, as soon as may be, cause the same to be laid before the Legislative Assembly.
