Accounts and Audit

(1) The Nigam shall maintain proper accounts and other relevant records and prepare an annual statement of accounts. (2) The accounts of the Nigam shall be audited by an auditor appointed by the State Government. 14. (1) The State Government may, by notification, establish for the purposes of this Act a body to be called the Madhya Pradesh Rajya Pashu Dhan Avam Kukkut Vikas Nigam. (2) The Nigam shall be a body corporate having perpetual succession and a common seal, with power to acquire, hold and dispose of property, both movable and immovable and to contract and shall by the said name sue and be sued. (3) The head office of the Nigam shall be at Bhopal. (1) The Board may constitute one or more executive committees consisting of such number of Directors as may be provided by the regulations for discharging such functions as may be delegated to it by the Board. (2) The Board may constitute such committees, whether consisting wholly of Directors or wholly of other persons, as it thinks fit, for such purposes, related to the activities of the Nigam as it may decide. (3) The members of a committee other than the Directors of the Nigam shall be paid by the Nigam such fees and/or allowances for attending its meeting and for attending to any other work of the Nigam as may be provided by regulations. (1) The Board may constitute one or more executive committees consisting of such number of Directors as may be provided by the regulations for discharging such functions as may be delegated to it by the Board. (2) The Board may constitute such committees, whether consisting wholly of Directors or wholly of other persons, as it thinks fit, for such purposes, related to the activities of the Nigam as it may decide. (3) The members of a committee other than the Directors of the Nigam shall be paid by the Nigam such fees and/or allowances for attending its meeting and for attending to any other work of the Nigam as may be provided by regulations.