MADHYA PRADESH VIDYUT SUDHAR ADHINIYAM

ACCOUNTS, AUDIT AND REPORTS

Budget of Commission

The Commission shall prepare , in such form and at such time in each financial year as may be prescribed , its budget for the next financial year, showing the estimated receipts and expenditure of the Commission and forward the same for approval to the State Government. 

Accounts and Audit of Commission

1. The Commission shall maintain proper accounts and other relevant records and prepare annual statement of accounts in such form as may be prescribed by the State Government in consultation with the Comptroller and Auditor-General of India.

2. The accounts of the Commission shall be audited by any person appointed by the Comptroller and Auditor-General at such intervals as may be specified by him and any expenditure incurred in connection with such audit shall be payable by the Commission to the Comptroller and Auditor -General.

3. The Comptroller and Auditor -General and any person appointed by him in connection with the audit of the accounts of the Commission under this Act shall have the same rights and privileges and authority in connection with the audit of government accounts and, in particular, shall have the right to demand the production of books , accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Commission.

4. The accounts of the Commission, as certified by the Comptroller and Auditor General or any other person appointed by him in this behalf, together with the audit report thereon shall be forwarded annually to the State Government by the Commission and the State Government shall cause the audit report to be laid, as soon as may be after it is received, on the table of the State Legislative Assembly.

Annual report of Commission

1. The Commission shall prepare once every year in such from and at such time as may prescribed, as annual report giving a summary of its activities during the previous year and copies of the report shall be forwarded to the State Government.(2)A copy of the report received under sub-section (1)shall be laid, as soon as may be after it is received, on the table of the State Legislative Assembly.