Common use of Audited accounts Clause in Contracts

Audited accounts. 21.1.1 The Implementation Agency shall maintain books of accounts recording all its receipts (including all revenues derived/collected by it from or on account of the Project and/or its use), income, expenditure, payments (including payments from the Escrow Account), assets and liabilities, in accordance with this Agreement, Good Industry Practice, Applicable Laws and Applicable Permits. The Implementation Agency shall provide 2 (two) copies of its Balance Sheet, Cash Flow Statement, Profit and loss Account, along with a report thereon by its Statutory Auditors, within 180 (one hundred and eighty) days of the close of the Accounting Year to which they pertain and such audited accounts, save and except where expressly provided to the contrary, shall form the basis of payments by either Party under this Agreement. The Authority shall have the right either through itself or through any of its authorised representatives, to inspect the records of the Implementation Agency during office hours and require copies of relevant extracts of books of Accounts, duly certified by the Statutory Auditors, to be provided to the Authority for verification of basis of payments, and in the event of any discrepancy or error being found, the same shall be rectified and such rectified account shall form the basis of payments by either party under this Agreement. 21.1.2 The Implementation Agency shall, within 30 (thirty) days of the close of each quarter of an Accounting Year, furnish to the Authority its unaudited financial results in respect of the preceding quarter, giving summarized information on the conducted tests count for each category of Users using the Project and liable for payment of Fee therefore, and any other information, in the manner and form prescribed by the Securities and Exchange Board of India. 21.1.3 On or before the 31st (thirty-first) day of May each Year, the Implementation Agency shall provide to the Authority, for the preceding Accounting Year, a statement duly audited by its Statutory Auditors giving summarized information on revenues derived from the Project, and such other information as the Authority may reasonably require.

Audited accounts. 21.1.1 27.1.1 The Implementation Agency Concessionaire shall maintain books of accounts recording all its receipts (including all revenues derived/collected by it from or on account of the Project and/or its use), income, expenditure, payments (including payments from the Escrow Account), assets and liabilities, in accordance with this Agreement, Good Industry Practice, Applicable Laws and Applicable Permits. The Implementation Agency Concessionaire shall provide 2 (two) copies of its Balance Sheet, Cash Flow Statement, Statement and Profit and loss Loss Account, along with a report thereon by its Statutory Auditors, within 180 (one hundred and eighty) days of the close of the Accounting Year to which they pertain and such audited accounts, save and except where expressly provided to the contrary, shall form the basis of payments by either Party under this Agreement. The Authority shall have the right either through itself or through any of its authorised representatives, to inspect the records of the Implementation Agency Concessionaire during office hours and require copies of relevant extracts of books of Accountsaccounts, duly certified by the Statutory Auditors, to be provided to the Authority for verification of basis of payments, and in the event of any discrepancy or error being found, the same shall be rectified and such rectified account shall form the basis of payments by either party Party under this Agreement. 21.1.2 27.1.2 The Implementation Agency Concessionaire shall, within 30 (thirty) days of the close of each quarter of an Accounting Year, furnish to the Authority its unaudited financial results in respect of the preceding quarter, giving summarized information on the conducted tests count for each category of Users using the Project and liable for payment of Fee therefore, and any other information, in the manner and form prescribed by the Securities and Exchange Board of IndiaIndia for publication of quarterly results by the companies listed on a stock exchange. 21.1.3 27.1.3 On or before the 31st (thirty-first) first day of May each Year, the Implementation Agency Concessionaire shall provide to the Authority, for the preceding Accounting Year, a statement duly audited by its Statutory Auditors giving summarized information on revenues derived from the Project, and such other information as the Authority may reasonably require.