7.1

Tata Power shall assist COMPANY to prepare all financial, budgetary land operational accounts, reports and reviews in accordance with generally accepted accounting norms followed in India and as required by applicable Indian laws and regulations so as to ensure that all such reports/accounts/reviews present a true and fair picture of the business of the COMPANY.

7.2

7.3

The financial year of COMPANY unless otherwise mutually agreed between the Holding Company and Tata Power, shall be from 1st April to 31st March every Year.

7.4

The parties hereto and the nominee Director of the parties hereto on the Board of COMPANY shall receive quarterly financial statements relating to the operations and activities of company including un-audited balance sheets, profit and loss statements and cash flow statements with relevant particulars relating to distribution and retail business such as amounts billed for electricity supplied, amounts collected, areas in respect of each categories of customers not later than 45 (Forty Five) days of the close of the each quarter;

7.5

The tax and accounting practices adopted by COMPANY shall be determined by applicable Indian regulations including the income tax law governing limited companies in India and customs and practices so as to secure the maximum benefit for COMPANY; and

7.6

COMPANY shall duly pay taxes in accordance with the stipulations of Indian law and other relevant regulations.