33Powers and duties of auditors

(1) The auditor of every ¹[housing finance institution which is a company] shall enquire whether or not the housing finance institution has furnished to ²[the National Housing Bank and the Reserve Bank] such statements, information or particulars relating to or connected with deposits received by it, as are required to be furnished under this Chapter, and the auditor shall, except where he is satisfied on such enquiry that the 3[housing finance institution which is a company] has furnished such statements, information or particulars, make a report to [the National Housing Bank and the Reserve Bank] giving the aggregate amount of such deposits held by the ¹[housing finance institution which is a company].

³[(1A) The ⁴[Reserve Bank] may, on being satisfied that it is necessary so to do, in the public interest or in the interest of the depositors or for the purpose of proper assessment of the books of account, issue directions to any housing finance institution or any group of housing finance institutions or housing finance companies generally or to the auditors of such housing finance institution or institutions relating to balance-sheet, profit and loss account, disclosure of liabilities in the books of account or any matter relating thereto.]

(2) Where, in the case of a housing finance institution, being a company, the auditor has made, or intends to make a report to ⁵[the National Housing Bank and the Reserve Bank] under sub-section (1), he shall include in his report under ⁶[sub-section (2) of section 143 of the Companies Act, 2013 (18 of 2013)], the contents of the report which he has made, or intends to make, to ⁵[the National Housing Bank and the Reserve Bank].

⁷[(3) Where the National Housing Bank is of the opinion that it is necessary so to do in the public interest or in the interest of the housing finance institution or in the interest of the depositors of such institution, ⁸[it may at any time and shall, on being directed to do so by the Reserve Bank,] by order, direct that a special audit of the accounts of the housing finance institution in relation to any such transaction or class of transactions or for such period or periods, as may be specified in the order, shall be conducted and the National Housing Bank may appoint an auditor or auditors to conduct such special audit and direct the auditor or the auditors to submit the report to it.

(4) The remuneration of the auditors as may be fixed by the National Housing Bank, having regard to the nature and volume of work involved in the audit and the expenses of or incidental to the audit, shall be borne by the housing finance institution so audited.]