(1) Every Collective Investment Management Company shall—
(a) keep and maintain proper books of account, records anddocuments, for each 147 [collective investment scheme] so as to explain its transactions and todisclose at any point of time the financial position of each 148 [collective investment scheme] 140 Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014,w.e.f. 9-1-2014.
141ibid.
142ibid.
143ibid.
144ibid.
145ibid.
146ibid.
147ibid.
148ibid.
and in particular give a true and fair view of the state of affairs of the 149 [collective investment scheme], and
(b) intimate to the Board and the trustees the place where suchbooks of account, records and documents including computerrecords are maintained.
(2) Every Collective Investment Management Company shall continue tomaintain and preserve, for a period of five years after the close of each 150 [collective investment scheme], its books of account, records, computer data and documents.
Financial year
41. The financial year for all the 151 [collective investment scheme]s shall end as on March 31 of eachyear.
Dispatch of warrants and proceeds
42. The Collective Investment Management Company shall,
(a) Dispatch to the unit holders the warrants within 42 days of thedeclaration of the interim returns.
(b) Dispatch the redemption proceeds within 30 days of the closureor the winding up of the 152 [collective investment scheme].
Statement of Accounts and Annual Report