Section 16(1) in The Punjab Ex-servicemen Corporation (General) Rules, 1982
(1)The Managing Director shall, not later than three months after the close of the financial year, lay before the Board of Directors :-(a)a balance sheet as at the end of the financial year; and(b)profit and loss account for the financial year authenticated by the Financial Controller.Explanation. - For the purposes of sub-rule (1) of rule 16, the expression, "Financial Controller" means the person authorised by the Board to exercise the powers of Financial Controller; and the expression "Financial year" means the period of twelve calendar months beginning with the first day of April of the preceding year.
