Account and Audit

(1) The Nigam shall cause to be maintained proper books of accounts and such other books as the rules may require and shall prepare annual statement of accounts in such prescribed manner. (2) The Nigam shall cause its accounts to be audited annually by such persons as the State Government may direct. (3) As soon as the accounts of the Nigam have been audited, the Nigam shall send a copy thereof together with a copy of the report of the auditor thereon to the State Government and shall cause the accounts to be published in the prescribed manner and place copies thereof on sale. (4) The Nigam shall comply with such directions as the State Government may think fit to issue after the report of the auditor has been laid before it.