(1) The Licensee shall -
(a) maintain separate accounting records including records of revenues, costs, assets, liabilities, reserves or provisions which have been charged from or to any Other Business together with a description of the basis of that charge or determined by apportionment or allocation between the various business activities together with a description;
(b) prepare, on a consistent basis, from such records accounting statements on the format given on Annexure – ‘B’ for each financial year comprising a profit and loss account, a balancesheet and a statement of sources and application of funds;
(c) provide in respect of the account statements so prepared, a report by the Auditors in respect of each Financial Year, stating whether in their opinion the statements have been properly prepared and give a true and fair view of the revenues, costs, assets, liabilities, reserves and provisions reasonably attributable to the business to which the statements relate;
(d) submit to the Commission such information that is required to review the additional cost incurred by the licensee for Other Business; and 3 BIHAR GAZETTE (EXTRA), 22ND MAY 2013
(e) submit copies of the accounting statements and Auditor’s report specified in clauses (b) and (c) above not later than six months after the close of the financial year to which they relate.
(2) The licensee shall, if required by the Commission, establish to the satisfaction of the Commission that the Other Business duly bears an appropriate share of overhead costs and other common costs.
(3) The licensee shall submit to the Commission such additional information as may be required to review in the additional cost incurred by the licensee for the other business.