153. Rectification Report

Bye-law No. 153

153. a. COMMITTEE PREPARES AND SUBMITS FORM O

On receipt of the audit reports from the Statutory and Internal Auditors, the Secretary of the Society shall prepare draft audit rectification reports on the objections raised and suggestions made, in the Audit rectification Report in
form ‘O’ prescribed under Rule 73 of the MCS Rules 1961 and place the same
before the meeting of the Committee, held next after the date of the receipt of
the audit reports, for its approval. The Audit Rectification shall be done by the
Committee within three months from the date of audit report. The committee
shall submit Audit Rectification Report to the Registrar and the Annual
General Body Meeting of the Society

153. b. FAILURE TO SUBMIT RECTIFICATION REPORT IS AN OFFENCE

If the Committee of the Society fails to submit Audit Rectification Report to the Registrar and the Annual General Body Meeting, all the Members of the Committee shall be deemed to have committed an Offence under section 146 of the Act and shall be liable for Penalty under section 147 of the Act.