Common use of Preparation of Accounts Clause in Contracts

Preparation of Accounts. 8.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 The LICENSEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose. b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR in the format prescribed by the LICENSOR, stating inter-alia, whether in his opinion that statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three months after the end of the period to which they relate. c) Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE for each quarter separately along with the payment for the following quarter. (a) The LICENSOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE shall be obliged to supply and provide for examination, any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE at any time. (b) The LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 The LICENSOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE by appointing AUDITOR at the cost of the LICENSEE and such AUDITOR(s) shall have the same powers which the statutory AUDITORs of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITOR, as fixed by the LICENSOR, shall be borne by the LICENSEE. 8.6 The LICENSOR may also get conducted a ‘Special Audit’ of the LICENSEE company’s accounts/records by “SPECIAL AUDITORs”, the payment for which at rates as fixed by the LICENSOR, shall be borne by the LICENSEE company. The SPECIAL AUDITORs shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs as envisaged in the Companies Act, 1956. 8.7 The LICENSEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms prescribed and the directions given by the LICENSOR or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 20.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 20.2 The LICENSEE shall be obliged to: a(i) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE Licence period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose. b(ii) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR Auditor in the format prescribed by the LICENSOR, stating inter-alia, alia whether in his opinion that the statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three months after at the end of the accounting period to which they relate. c(iii) Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE as defined in condition 18 for each quarter separately along with the payment for the following quarter. (a) 20.3 The LICENSOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE Licence at any timetime without recording any reasons thereof. (b) The 20.4 LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year THREE years from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 20.5 The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 20.6 The LICENSOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE by appointing AUDITOR auditor at the cost of the LICENSEE and such AUDITOR(sauditor(s) shall have the same powers which the statutory AUDITORs auditors of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITORthe Auditors, as fixed by the LICENSOR, shall be borne by the LICENSEE. 8.6 20.7 The LICENSOR may also get conducted a ‘Special Audit’ of the LICENSEE company’s accounts/records by “SPECIAL AUDITORsSpecial Auditors”, the payment for which at rates a rate as fixed by the LICENSOR, shall be borne by the LICENSEE companyLICENSEE. This will be in the nature of auditing the audit described in para 20.5 above. The SPECIAL AUDITORs Special Auditors shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs auditors as envisaged in the Companies Act, 1956. 8.7 20.8 The LICENSEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms principles prescribed and the directions given by the LICENSOR or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 . The LICENSEE shall be obliged to: a) : Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE Licence period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose. b) . Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR Auditor in the format prescribed by the LICENSOR, stating inter-alia, alia whether in his opinion that the statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three months after at the end of the accounting period to which they relate. c) . Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE as defined in condition 18 for each quarter separately along with the payment for the following quarter. (a) quarter The LICENSOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE Licence at any time. (b) The time without recording any reasons thereof. LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year THREE years from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 . The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 . The LICENSOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE by appointing AUDITOR auditor at the cost of the LICENSEE and such AUDITOR(sauditor(s) shall have the same powers which the statutory AUDITORs auditors of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITORthe Auditors, as fixed by the LICENSOR, shall be borne by the LICENSEE. 8.6 . The LICENSOR may also get conducted a ‘Special Audit’ of the LICENSEE company’s accounts/records by “SPECIAL AUDITORsSpecial Auditors”, the payment for which at rates a rate as fixed by the LICENSOR, shall be borne by the LICENSEE companyLICENSEE. This will be in the nature of auditing the audit described in para 20.5 above. The SPECIAL AUDITORs Special Auditors shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs auditors as envisaged in the Companies Act, 1956. 8.7 . The LICENSEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms principles prescribed and the directions given by the LICENSOR or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 21.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 21.2 The LICENSEE shall be obliged to: (a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE License period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s business under the LICENCE LICENSE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose. (b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR Auditor in the format prescribed by the LICENSORlicensor, stating inter-alia, alia whether in his opinion that statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three two months after the end of the period to which they relate. (c) Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE for each quarter separately along with the payment for the following quarter. (a) The LICENSOR or the Telecom Regulatory Authority of India (TRAI), as the case may be, shall have a right to call for and the LICENSEE licensee shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE License at any timetime without recording any reasons thereof. (b) The LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year three years from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCELICENSE. 8.4 21.4 The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 21.5 The LICENSOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE by appointing AUDITOR auditor at the cost of the LICENSEE and such AUDITOR(sauditor(s) shall have the same powers which the statutory AUDITORs auditors of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITORthe Auditors, as fixed by the LICENSOR, shall be borne by the LICENSEE. 8.6 21.6 The LICENSOR may also get conducted a ‘Special Audit’ of the LICENSEE company’s accounts/records by “SPECIAL AUDITORsSpecial Auditors”, the payment for which at rates a rate as fixed by the LICENSOR, shall be borne by the LICENSEE company. This will be in the nature of auditing the audit described in Para 21.5 above. The SPECIAL AUDITORs Special Auditors shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs companies auditors as envisaged in the Companies Act, 1956. 8.7 21.7 The LICENSEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms principles prescribed and the directions given by the LICENSOR or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 22.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 22.2 The LICENSEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE Licence period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), ) revenue and financial position of the LICENSEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose. b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR Auditor in the format prescribed by the LICENSOR, stating inter-alia, allia whether in his opinion that the statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three months after at the end of the accounting period to which they relate. c) Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE as defined in condition 19 for each quarter separately along with the payment for the following quarter. (a) The LICENSOR or the TRAI, as the case may be, be shall have a right to call for and the LICENSEE shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE Licence at any timetime without recording any reasons thereof. (b) The LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 The LICENSOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE by appointing AUDITOR at the cost of the LICENSEE and such AUDITOR(s) shall have the same powers which the statutory AUDITORs of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITOR, as fixed by the LICENSOR, shall be borne by the LICENSEE. 8.6 The LICENSOR may also get conducted a ‘Special Audit’ of the LICENSEE company’s accounts/records by “SPECIAL AUDITORs”, the payment for which at rates as fixed by the LICENSOR, shall be borne by the LICENSEE company. The SPECIAL AUDITORs shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs as envisaged in the Companies Act, 1956. 8.7 The LICENSEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms prescribed and the directions given by the LICENSOR or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 The LICENSEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE Licence period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose. b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR Auditor in the format prescribed by the LICENSOR, stating inter-alia, alia whether in his opinion that statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three two months after the end of the period to which they relate. c) Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE for each quarter separately along with the payment for the following quarter. (a) The LICENSOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE Licence at any timetime without recording any reasons thereof. (b) The LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year THREE years from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 The LICENSOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE by appointing AUDITOR auditor at the cost of the LICENSEE and such AUDITOR(sauditor(s) shall have the same powers which the statutory AUDITORs auditors of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITORthe Auditors, as fixed by the LICENSOR, shall be borne by the LICENSEE. 8.6 The LICENSOR may also get conducted a ‘Special Audit’ of the LICENSEE company’s accounts/records by “SPECIAL AUDITORsSpecial Auditors”, the payment for which at rates a rate as fixed by the LICENSOR, shall be borne by the LICENSEE company. This will be in the nature of auditing the audit described in para 8.5 above. The SPECIAL AUDITORs Special Auditors shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs companies auditors as envisaged in the Companies Act, 1956. 8.7 The LICENSEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms principles prescribed and the directions given by the LICENSOR or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 The LICENSEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s business, as well as, for the quantification of Revenue or any other purpose. b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR Auditor in the format prescribed by the LICENSOR, stating inter-alia, whether in his opinion that statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three months after the end of the period to which they relate. c) Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE for each quarter separately along with alongwith the payment for the following quarter. (a) The LICENSOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE at any time. (b) The LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 The LICENSOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE by appointing AUDITOR Auditor at the cost of the LICENSEE and such AUDITOR(sAuditor(s) shall have the same powers which the statutory AUDITORs Auditors of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITORthe Auditors, as fixed by the LICENSOR, shall be borne by the LICENSEE. 8.6 The LICENSOR may also get conducted a ‘Special Audit’ of the LICENSEE company’s accounts/records by “SPECIAL AUDITORsSpecial Auditors”, the payment for which at rates as fixed by the LICENSOR, shall be borne by the LICENSEE company. The SPECIAL AUDITORs Special Auditors shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs Auditors as envisaged in the Companies Act, 1956. 8.7 The LICENSEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms prescribed and the directions given by the LICENSOR or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be regulations, issued from time to time by the LICENSOR LICENCOR or TRAI as the case may be. 8.2 The LICENSEE LICENCEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE period or of such lesser periods as the LICENSOR LICENCOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEELICENCEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEELICENCEE’s business, as well as, for the quantification of Revenue or any other purpose. b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEELICENCEE’s AUDITOR Auditor in the format prescribed by the LICENSOR, LICENCOR stating inter-alia, alia whether in his opinion that statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR LICENCOR a copy of each of the accounting statements along with the said report not later than three two months after the end of the period to which they relate. c) Send to the LICENSOR LICENCOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE Service for each quarter separately along with the payment for following the following quarter. (a) The LICENSOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE LICENCEE shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE LICENCEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE at any timetime without recording any reasons thereof. (b) The LICENSEE LICENCEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year three years from the date of publishing of duly audited & approved concerned Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, breach sufficient to give a cause for cancellation of the LICENCE. 8.4 The records of the LICENSEE LICENCEE will be subject to such scrutiny as may be prescribed by the LICENSOR LICENCOR so as to facilitate independent verification of the amount due to the LICENSOR LICENCOR as its share of the revenue. 8.5 The LICENSOR LICENCOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE LICENCEE by appointing AUDITOR auditor at the cost of the LICENSEE LICENCEE and such AUDITOR(sauditor(s) shall have the same powers which the statutory AUDITORs auditors of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITORthe Auditors, as fixed by the LICENSORLICENCOR, shall be borne by the LICENSEELICENCEE. 8.6 The LICENSOR LICENCOR may also get conducted a ‘Special Audit’ of the LICENSEE LICENCEE company’s accounts/records by “SPECIAL AUDITORsSpecial Auditors”, the payment for which at rates a rate as fixed by the LICENSORLICENCOR, shall be borne by the LICENSEE LICENCEE company. This will be in the nature of auditing the audit described in para 8.5 above. The SPECIAL AUDITORs Special Auditors shall also be provided the same facility and shall have the same powers as that of the companies’ AUDITORs companies auditors as envisaged in the Companies Act, 1956. 8.7 The LICENSEE LICENCEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms principles prescribed (Annexure-C) and the directions given by the LICENSOR LICENCOR and or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 The LICENSEE LICENCEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR LICENCOR or TRAI as the case may be. 8.2 The LICENSEE LICENCEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE period or of such lesser periods as the LICENSOR LICENCOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEELICENCEE’s business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEELICENCEE’s business, as well as, for the quantification of Revenue or any other purpose. b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEELICENCEE’s AUDITOR Auditor in the format prescribed by the LICENSORLICENCOR, stating inter-alia, alia whether in his opinion that statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR LICENCOR a copy of each of the accounting statements along with the said report not later than three two months after the end of the period to which they relate. c) Send to the LICENSOR LICENCOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE for each quarter separately along with the payment for the following quarter. (a) The LICENSOR LICENCOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE LICENCEE shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE LICENCEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE at any timetime without recording any reasons thereof. (b) The LICENSEE LICENCEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year three years from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 The records of the LICENSEE LICENCEE will be subject to such scrutiny as may be prescribed by the LICENSOR LICENCOR so as to facilitate independent verification of the amount due to the LICENSOR LICENCOR as its share of the revenue. 8.5 The LICENSOR LICENCOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE LICENCEE by appointing AUDITOR auditor at the cost of the LICENSEE LICENCEE and such AUDITOR(sauditor(s) shall have the same powers which the statutory AUDITORs auditors of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITORthe Auditors, as fixed by the LICENSORLICENCOR, shall be borne by the LICENSEELICENCEE. 8.6 The LICENSOR LICENCOR may also get conducted a ‘Special Audit’ of the LICENSEE LICENCEE company’s accounts/records by “SPECIAL AUDITORsSpecial Auditors”, the payment for which at rates a rate as fixed by the LICENSORLICENCOR, shall be borne by the LICENSEE LICENCEE company. This will be in the nature of auditing the audit described in para 8.5 above. The SPECIAL AUDITORs Special Auditors shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs companies auditors as envisaged in the Companies Act, 1956. 8.7 The LICENSEE LICENCEE shall be liable to prepare and furnish the company’s annual financial accounts according to the accounting norms principles prescribed (Annexure-C) and the directions given by the LICENSOR LICENCOR or the TRAI, as the case may be, from time to time.

Preparation of Accounts. 8.1 The LICENSEE will draw, keep and furnish independent accounts for the SERVICE and shall fully comply with the orders, directions or regulations as may be issued from time to time by the LICENSOR or TRAI as the case may be. 8.2 The LICENSEE shall be obliged to: a) Compile and maintain accounting records, sufficient to show and explain its transactions in respect of each completed quarter of the LICENCE period or of such lesser periods as the LICENSOR may specify, fairly presenting the costs (including capital costs), revenue and financial position of the LICENSEE’s 's business under the LICENCE including a reasonable assessment of the assets employed in and the liabilities attributable to the LICENSEE’s 's business, as well as, for the quantification of Revenue or any other purpose. b) Procure in respect of each of those accounting statements prepared in respect of a completed financial year, a report by the LICENSEE’s AUDITOR 's Auditor in the format prescribed by the LICENSOR, stating inter-alia, alia whether in his opinion that statement is adequate for the purpose of this condition and thereafter deliver to the LICENSOR a copy of each of the accounting statements along with the said report not later than three two months after the end of the period to which they relate. c) Send to the LICENSOR a certified statement sworn on an affidavit, by authorized representative of the company, containing full account of Revenue earned from the SERVICE for each quarter separately along with the payment for the following quarter. (a) The LICENSOR or the TRAI, as the case may be, shall have a right to call for and the LICENSEE shall be obliged to supply and provide for examination, examination any books of accounts that the LICENSEE may maintain in respect of the business carried on to provide the service(s) under this LICENCE at any timetime without recording any reasons thereof. (b) The LICENSEE shall invariably preserve all billing and all other accounting records (electronic as well as hard copy) for a period of one year three years from the date of publishing of duly audited & approved Accounts of the company and any dereliction thereof shall be treated as a material breach independent of any other breach, sufficient to give a cause for cancellation of the LICENCE. 8.4 The records of the LICENSEE will be subject to such scrutiny as may be prescribed by the LICENSOR so as to facilitate independent verification of the amount due to the LICENSOR as its share of the revenue. 8.5 The LICENSOR may, on forming an opinion that the statements or accounts submitted are inaccurate or misleading, order an Audit of the accounts of the LICENSEE by appointing AUDITOR auditor at the cost of the LICENSEE and such AUDITOR(sauditor(s) shall have the same powers which the statutory AUDITORs auditors of the company enjoy under Section 227 of the Companies Act, 1956. The remuneration of such AUDITORthe Auditors, as fixed by the LICENSOR, shall be borne by the LICENSEE. 8.6 The LICENSOR may also get conducted a ‘"Special Audit’ " of the LICENSEE company’s 's accounts/records by “SPECIAL AUDITORs”"Special Auditors", the payment for which at rates a rate as fixed by the LICENSOR, shall be borne by the LICENSEE company. This will be in the nature of auditing the audit described in para 8.5 above. The SPECIAL AUDITORs Special Auditors shall also be provided the same facility and have the same powers as that of the companies’ AUDITORs companies auditors as envisaged in the Companies Act, 1956. 8.7 The LICENSEE shall be liable to prepare and furnish the company’s 's annual financial accounts according to the accounting norms principles prescribed (Annexure-C) and the directions given by the LICENSOR or the TRAI, as the case may be, from time to time.