Section 102:
Accounts and audit.
(1) A Board shall maintain proper accounts and other relevant records
and prepare the annual statement of accounts, including the balance-sheet in such form as may be
specified by the Central Government in consultation with the Comptroller and Auditor-General of India.
1[(2) The accounts of the Board shall be audited--
(i) once in every year; and
(ii) if so required by the Comptroller and Auditor-General of India, concurrently with the
compilation of such accounts,by the Comptroller and Auditor-General of India or such other persons as may be appointed by him in
this behalf and any amount payable to him by the Board in respect of such audit shall be debitable to the
general account of the Board.]
(3) The Comptroller and Auditor-General of India or any person appointed by him in connection with
the audit of the accounts of a Board shall have the same rights, privileges and authority in connection with
such audit as the Comptroller and Auditor-General of India has in connection with the audit of
Government accounts and, in particular, shall have the right to demand the production of books of
accounts, connected vouchers and other documents of the Board.
Notes:
1. Subs. by Act 29 of 1974, s. 31, for sub-section (2) (w.e.f. 1-2-1975).