Provision of Accounts. The JVC shall, at the end of its accounting reference period, deliver to the AAI as soon as reasonably practical after they are available but no later than the expiry of the period provided under the Companies Act, 1956 for the finalisation of the audited accounts, beginning with the first accounting reference period which ends within the Term, copies of the annual report, audited profit and loss account, balance sheet and cash flow statement for the JVC (and (if applicable) for any subsidiary of the JVC) as at the end of and for that accounting reference period, together with copies of all related director’s and auditor’s reports. Each set of accounts delivered hereunder shall, save as stated in the notes thereto, be prepared and audited in accordance with accounting principles and auditing standards and practices generally accepted in India and consistently applied and in accordance with all Applicable Laws and, together with those notes and subject to any qualifications contained in any relevant auditor’s report, shall give a true and fair view of the state of affairs and profits or loss for the period covered by such accounts. Each set of accounts shall be prepared consistently in accordance with the JVC’s normal accounting policies, details of which shall be supplied, on request, to the AAI and any changes to which shall be notified to the AAI upon submission of such accounts. The JVC shall, in addition, deliver to the AAI unaudited profit and loss account and balance sheet and cash flow statement for each reporting period as well as management accounts for each month as soon as reasonably practical after they are available. Each set of accounts shall be prepared consistently in accordance with the JVC’s normal accounting policies, details of which shall be supplied, on request, to the AAI and any changes to which shall be notified to the AAI on submission of such accounts. The accounting reference period of the JVC shall be a twelve month period All accounts may also be maintained in the electronic form.
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Provision of Accounts. (a) The JVC shall, at the end of its accounting reference period, deliver to the AAI as soon as reasonably practical after they are available but no later than the expiry of the period provided under the Companies Act, 1956 for the finalisation of the audited accounts, beginning with the first accounting reference period which ends within the Term, copies of the annual report, audited profit and loss account, balance sheet and cash flow statement for the JVC (and (if applicable) for any subsidiary of the JVC) as at the end of and for that accounting reference period, together with copies of all related director’s and auditor’s reports. reports.
(b) Each set of accounts delivered hereunder shall, save as stated in the notes thereto, be prepared and audited in accordance with accounting principles and auditing standards and practices generally accepted in India and consistently applied and in accordance with all Applicable Laws and, together with those notes and subject to any qualifications contained in any relevant auditor’s report, shall give a true and fair view of the state of affairs and profits or loss for the period covered by such accounts. Each set of accounts shall be prepared consistently in accordance with the JVC’s normal accounting policies, details of which shall be supplied, on request, to the AAI and any changes to which shall be notified to the AAI upon submission of such accounts. .
(c) The JVC shall, in addition, deliver to the AAI unaudited profit and loss account and balance sheet and cash flow statement for each reporting period as well as management accounts for each month as soon as reasonably practical after they are available. Each set of accounts shall be prepared consistently in accordance with the JVC’s normal accounting policies, details of which shall be supplied, on request, to the AAI and any changes to which shall be notified to the AAI on submission of such accounts. The accounting reference period of the JVC shall be a twelve month period period
(d) All accounts may also be maintained in the electronic form.
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