Common use of ACCOUNTS AND AUDIT Clause in Contracts

ACCOUNTS AND AUDIT. 8.1 The Lessee shall appoint and have during the subsistence of this Agreement as its ‘Statutory Auditors’ a firm of Chartered Accountants duly leased to practice in India. 8.2 The Lessee shall maintain full accounts of all inflows collected by it from the Leased Space(s) and of O&M Expenses and other costs. 8.3 Notwithstanding anything to the contrary contained in this Agreement, DMRC shall have the right, but not the obligation, to appoint at its cost, another firm of chartered accountants to independently audit (“Independent Auditor”) and verify all matters, expenses, costs, realizations which have been carried out by the Statutory Auditors of the Lessee. In such an event, the Lessee shall provide to such Independent Auditor access to all documents and records, without demur or reservation. 8.4 In the event of their being any difference between the finding of the Independent Auditor, as the case may be, and the certification provided by the Statutory Auditors of the Lessee, such Auditors shall meet to resolve such differences and if they are unable to resolve the same such disputed certification shall be resolved by recourse to the Dispute Resolution Procedure.

ACCOUNTS AND AUDIT. 8.1 The Lessee Licensee shall appoint and have during the subsistence of this Agreement as its ‘Statutory Auditors’ a firm of Chartered Accountants duly leased licensed to practice in India. 8.2 The Lessee Licensee shall maintain full accounts of all inflows collected by it from the Leased Licensed Space(s) and of O&M Expenses and other costs. 8.3 Notwithstanding anything to the contrary contained in this Agreement, DMRC shall have the right, but not the obligation, to appoint at its cost, another firm of chartered accountants to independently audit (“Independent Auditor”) and verify all matters, expenses, costs, realizations which have been carried out by the Statutory Auditors of the LesseeLicensee. In such an event, the Lessee Licensee shall provide to such Independent Auditor access to all documents and records, without demur or reservation. 8.4 In the event of their being any difference between the finding of the Independent Auditor, as the case may be, and the certification provided by the Statutory Auditors of the LesseeLicensee, such Auditors shall meet to resolve such differences and if they are unable to resolve the same such disputed certification shall be resolved by recourse to the Dispute Resolution Procedure.

ACCOUNTS AND AUDIT. 8.1 The Lessee shall appoint and have during the subsistence of this Agreement as its ‘Statutory Auditors’ a firm of Chartered Accountants duly leased Leased to practice in India. 8.2 The Lessee shall maintain full accounts of all inflows collected by it from the Leased Space(s) and of O&M Expenses and other costs. 8.3 Notwithstanding anything to the contrary contained in this Agreement, DMRC shall have the right, but not the obligation, to appoint at its cost, another firm of chartered accountants to independently audit (“Independent Auditor”) and verify all matters, expenses, costs, realizations which have been carried out by the Statutory Auditors of the Lessee. In such an event, the Lessee shall provide to such Independent Auditor access to all documents and records, without demur or reservation. 8.4 In the event of their being any difference between the finding of the Independent Auditor, as the case may be, and the certification provided by the Statutory Auditors of the Lessee, such Auditors shall meet to resolve such differences and if they are unable to resolve the same such disputed certification shall be resolved by recourse to the Dispute Resolution Procedure.