Balance sheet

Balance sheet :-

1. (1) Every foreman shall prepare and file with the Registrar in such manner and within such time as may be prescribed a balance sheet relating to the period of account audited either by qualified auditors under the Companies Act, 1956, or by a chit auditor appointed under sub- section
2. (2) of section 51.
3. (2) The balance sheet referred to in sub-section
4. (1) shall,
   • (a) contain a summary of the assets and liabilities of the chit, and
   • (b) give such particulars as will disclose the nature of the assets and liabilities and how the value of the assets has been arrived at.