PART VI
FINANCE, ACCOUNTS AND AUDIT
1[378ZE Books of account
(1) Every Producer Company shall keep at its registered office proper books of account with respect to-
(a) all sums of money received and expended by the Producer Company and the matters in respect of which the receipts and expenditure take place;
(b) all sales and purchase of goods by the Producer Company;
(c) the instruments of liability executed by or on behalf of the Producer Company;
(d) the assets and liabilities of the Producer Company;
(e) in case of a Producer Company engaged in production, processing and manufacturing, the particulars relating to utilisation of materials or labour or other items of costs.
(2) The balance-sheet and profit and loss accounts of the Producer Company shall be prepared, as far as may be, in accordance with the provisions contained in section 129.
Internal audit.]
Amendments
1.Inserted by Companies(Amendment) Act 2020 Dated 29.09.2020Amendment Effective from 11th February 2021