27 March 2009
as per section 209(3) proper books of account shall not be deemed to be kept with respect to the matters specified therein : (a) if there are not kept such books as are necessary to give a true and fair view of the state of affairs of the company or branch office, as the case may be, and to explain its transactions; and (b) if such books are not kept on accrual basis and according to the double entry system of accounting.
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