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State Bank of India Act, 1955

40. Returns

(1) The State Bank shall furnish to the Central Government and to the Reserve Bank 99[within three months from 100[or the date specified under section 39, as the case may be], as on which its books are closed and balanced] its balance sheet, together with the profit and loss account and the 101[auditors' report and a report by the Central Board on the working and activities of the State Bank] during the period covered by the accounts :

102[Provided that the Central Government may, after consultation with the Reserve Bank, extend the said period of three months by such further period, not exceeding three months, as it may think fit.]

(2) The balance sheet and the profit and loss account shall be signed by the chairman, vice-chairman, managing directors, if any, and a majority of the other directors.

(3) The State Bank shall also, within two months from the date on which its accounts are closed and balanced, transmit to the Central Government and the Reserve Bank a statement showing, as far as, may be available, the name, addressand occupation of, andthe number of shares held by, each shareholder of the State Bank as on the said date.

103[(4) The Central Government shall cause the auditors' report and the report by the Central Board on the working and activities of the State Bank to be laid, as soon as may be after they are received, before each House of Parliament 104[***].]



State Bank of India Act, 1955 Back




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