The State Financial Corporations Act, 1951 · IV — INVESTMENT OF FUNDS, ACCOUNTS AND AUDIT

Section 38. Returns

In force · As amended up to 2026-08

38. Returns . —[3] [(1) The Financial Corporation shall furnish to the State Government, the[4] [Small Industries Bank] and the Reserve Bank such statements and returns in such form as the State Government, the[4] [Small Industries Bank] or the Reserve Bank may require from time to time.] (2) The Financial Corporation shall furnish[5] [to the State Government, the[4] [Small Industries Bank] and the Reserve Bank] within[6] [four months] of the close of each financial year a statement in the prescribed form of its assets and liabilities as at the close of that year, together with a profit and loss account for the year, the auditors' report and a report of the working of the Financial Corporation during the year and copies of the said statement, account and reports shall be published in the Official Gazette and shall also be laid before the Legislature of the State. 1. The proviso omitted by Act 39 of 2000, s. 25 (w.e.f. 5-9-2000). 2. Subs. by s. 26, ibid ., for "Development Bank" (w.e.f. 5-9-2000). 3. Subs. by Act 43 of 1985, s. 25, for sub-sections (1) and (2) (w.e.f. 21-8-1985). 4. Subs. by Act 39 of 2000, s. 27, for "Development Bank" (w.e.f. 5-9-2000). 5. Subs. by Act 52 of 1975, s. 38, for "to the State Government and to the Reserve Bank" (w.e.f. 16-2-1976). 6. Subs. by Act 56 of 1956, s. 22, for "three months" (w.e.f. 1-10-1956).

Source: India Code

How this section changed

  1. substituted by Act 56 of 1956, s. 22

    In force from 1 Oct 1956

    Earlier wording: “three months”

    Footnote: 6. Subs. by Act 56 of 1956, s. 22, for "three months" (w.e.f. 1-10-1956).

  2. substituted by Act 52 of 1975, s. 38

    In force from 16 Feb 1976

    Earlier wording: “to the State Government and to the Reserve Bank”

    Footnote: 5. Subs. by Act 52 of 1975, s. 38, for "to the State Government and to the Reserve Bank" (w.e.f. 16-2-1976).

  3. substituted by Act 43 of 1985, s. 25

    In force from 21 Aug 1985

    Footnote: 3. Subs. by Act 43 of 1985, s. 25, for sub-sections (1) and (2) (w.e.f. 21-8-1985).