(i) "Any funds of the Corporation not required for current expenditure may, subject to such general or special directions if any given by the State Government, in this behalf, be placed in fixed deposits with the Reserve Bank of India or State Bank of India or any scheduled or cooperative Bank approved in this behalf by the State Government or invested in the name of the Corporation in interest bearing deposits or securities of the Central or State Government keeping in view the twin objectives of safety and return on investment."
14 * Remembered Vide Rajasthan Gazette Notification dated 22-04-2010.
**Amended Vide Rajasthan Gazette Notification dated 22-04-2010.
(ii) The placing of money in fixed deposit and the investment thereof and the disposal of money so placed or invested shall require the sanction of the Executive Committee of the Corporation :
Provided that short term call deposits and fixed deposits for a period of less than one year may be made by the Managing Director.
(iii) The Managing Director may raise loan against fixed deposit receipts from the Banks as and when necessary.
24. Annual statement of account and balance sheet : The Board shall cause the books of the Corporation to be balanced on the last working day of the month of March in every year and the Annual Accounts shall be set out as follows:
(a) Balance Sheet* duly recommended by the Board in Form 'A'
(b) Profit and Loss Account in Form 'B'
(c) ** Profit & Loss Appropriation Account in Form 'C'