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Union of India - Section

Section 40 in The State Bank Of India Act, 1955

40. Returns.

(1)The State Bank shall furnish to the Central Government and to the Reserve Bank within three months from the 31st day of [March] [Substituted by the Act 27 of 2010 for the word "December"] or the date specified under section 39, as the case may be as on which its books are closed and balanced, its balance sheet, together with the profit and loss account and the auditors' report and a report by the Central Board on the working and activities of the State Bank during the period covered by the accounts:Provided that the Central Government may, after consultation with the Reserve Bank, extend the said period of three months by such further period, not exceeding three months, as it may think fit.
(2)[ The balance sheet and the profit and loss account shall be signed by the chairman, managing directors and at least three other directors of the Central Board.] [Substituted by the Act 27 of the 2010 ]
(3)The State Bank shall also, within two months from the date on which its accounts are closed and balanced, transmit to the Central Government and the Reserve Bank a statement showing, as far as may be available, the name, address and occupation of, and the number of shares held by, each shareholder of the State Bank as on the said date.
(4)The Central Government shall cause the auditors report and the report by the Central Board on the working and activities of the State Bank to be laid, as soon as may be after they are received, before each House of Parliament [* * *].
(2) The balance sheet and the profit and loss account shall be signed by the chairman, vice-chairman, managing directors, if any, and a majority of the other directors.