16. Transfer of certain assets, liabilities, etc., of Central Government to Corporation.—As from
the appointed day,—
(a) all property and assets (including the Non-lapsable Fund) which immediately before that day
vested in the Central Government for the purpose of Akashvani or Doordarshan or both shall stand
transferred to the Corporation on such terms and conditions as may be determined by the Central
Government and the book value of all such property and assets shall be treated as the capital provided
by the Central Government to the Corporation;
(b) all debts, obligations and liabilities incurred, all contracts entered into and all matters and
things engaged to be done by, with or for the Central Government immediately before such day for or
in connection with the purposes of Akashvani or Doordarshan or both shall be deemed to have been
incurred, entered into and engaged to be done by, with or for the Corporation;
(c) all sums of money due to the Central Government in relation to the Akashvani or Doordarshan
or both immediately before such day shall be deemed to be due to the Corporation;
(d) all suits and other legal proceedings instituted or which could have been instituted by or
against the Central Government immediately before such day for any matter in relation to the
Akashvani or Doordarshan or both may be continued or instituted by or against the Corporation.
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17. Grants, etc., by Central Government.—For the purposes of enabling the Corporation to
discharge its functions efficiently under this Act, the Central Government may, after due appropriation
made by Parliament by law in this behalf, pay to the Corporation in each financial year,—
(i) the proceeds of the broadcast receiver licence fees, if any, as reduced by the collection
charges; and
(ii) such other sums of money as that Government considers necessary,
by way of equity, grant-in-aid or loan.
18. Fund of Corporation.—(1) The Corporation shall have its own Fund and all the receipts of the
Corporation (including the amounts which stand transferred to the Corporation under section 16) shall be
credited to the Fund and all payments by the Corporation shall be made therefrom.
(2) All moneys belonging to the Fund shall be deposited in one or more nationalised banks in such
manner as the Corporation may decide.
(3) The Corporation may spend such sums as it thinks fit for performing its functions under this Act
and such sums shall be treated as expenditure payable out of the Fund of the Corporation.
Explanation.—For the purposes of this section, “nationalised bank” means a corresponding new bank
specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings)
Act, 1970(5 of 1970) or a corresponding new bank specified in the First Schedule to the Banking
Companies (Acquisition and Transfer of Undertakings) Act, 1980(40 of 1980).
19. Investment of moneys.—The Corporation may invest its moneys in the securities of the Central
Government or any State Government or in such other manner as may be prescribed.
20. Annual Financial Statement of the Corporation.—(1) The Corporation shall prepare, in each
financial year, an Annual Financial Statement for the next financial year showing separately—
(a) the expenditure which is proposed to be met from the internal resources of the Corporation;
and
(b) the sums required from the Central Government to meet other expenses, and distinguishing—
(i) revenue expenditure from other expenditure; and
(ii) non-plan expenditure from plan expenditure.
(2) The Annual Financial Statement shall be prepared in such form and forwarded at such time to the
Central Government for its approval as may be agreed to by that Government and the Corporation.
21. Accounts and audit of Corporation.—(1) The Corporation shall maintain proper accounts and
other relevant records and prepare an annual statement of accounts in such form and in such manner as
may be prescribed.
(2) The accounts of the Corporation shall be audited by the Comptroller and Auditor-General of India
at such intervals as may be specified by him and any expenditure incurred in connection with such audit
shall be payable by the Corporation to the Comptroller and Auditor-General.
(3) The Comptroller and Auditor-General and any person appointed by him in connection with the
audit of the accounts of the Corporation shall have the same rights and privileges and authority in
connection with such audit as the Comptroller and Auditor-General has in connection with the audit of
Government accounts and, in particular, shall have the right to demand the production of books, accounts,
connected vouchers and other documents and papers and to inspect any of the offices of the Corporation.
(4) The accounts of the Corporation as certified by the Comptroller and Auditor-General of India or
any other person appointed by him in this behalf together with the audit report thereon shall be forwarded
annually to the Central Government and that Government shall cause the same to be laid before each
House of Parliament.
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22. [Corporation not liable to be taxed.] Omitted by Act 20 of 2002, s. 163 (w.e.f.1-4-2003).