Para 7.3.17 — MSO (Audit)
Original Rule Text
7.3.17 In this chapter all reviews relating to the statutory corporations will be incorporated.
# Chapter–IV
What This Means
Chapter III of the State Commercial Audit Report contains all reviews relating to statutory corporations. This chapter presents comprehensive appraisals of State-level statutory corporations such as transport corporations, electricity boards, and housing boards that were established under specific Acts of the Legislature.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Chapter III is exclusively for statutory corporation reviews
- 2Covers corporations established by specific Acts of Parliament or State Legislature
- 3Comprehensive appraisals of selected corporations are presented here
- 4Follows the same review methodology as used for government companies in Chapter II
Practical Example
Chapter III features reviews of two statutory corporations: the State Road Transport Corporation (showing a cumulative loss of Rs 3,000 crore with poor fleet utilisation) and the State Housing Board (highlighting delays in project completion and cost overruns in 12 housing schemes). Each review covers financial results, operational efficiency, and compliance with the parent Act's provisions.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What is the difference between a government company and a statutory corporation?▼
Do all statutory corporations in a State get reviewed every year?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.