Administration Manual - B.E.S.T. Undertaking.

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Section 460(AA)- General Manager to receive the payments on account of
Brihanmumbai Electric Supply Transport Fund and lodge them in State Bank of India
or such other banks in the city as approved by Corporation time to time. At present
26 banks are in operation for the said transactions. The list of said banks is shown
under the Appendix I.
Section 460(BB) – How Brihanmumbai Electric Supply and Transport Fund shall be
drawn.
No payment shall be made by the bank aforesaid out of BEST Fund except on
a cheque signed by 2 persons who is authorized by the General Manager and whose
name is appeared in the said authorized list approved by BEST Committee (then
Mayor-in-Council dated 10-3-1999).
As per this provision the General Manager may make the payment in cash or
cheque for a sum not exceeding Rs. 5000/- or such higher amount as Brihan Mumbai
Electric Supply Transport Committee may approve from time to time. Accordingly
the sanction of the Committee was obtained vide BCR No. 322 dated 3.11.2003 to
make cash payment to the supplier/contractor up to maximum limit of Rs. 50 lakhs in
each case subject to reporting the same to the BEST Committee at a regular intervals.
460 (DD) - Only sum covered by budget grant to be expended from Brihanmumbai
Electric Supply Transport Fund provided certain item listed under this section
exempted from this prohibition.
460(GG) - Purposes for which Brihanmumbai Electric Supply Transport Fund is
to be applied.
460(HH)- Constitution of Brihanmumbai Electric Supply Transport Staff Benefit
Fund.
The fines collected under Section 460(W), Donations from the passengers and
sale proceeds from unclaimed lost properties is required to be credited to this fund.
The said fund required to be expended in promoting the wellbeing of the Municipal
Officers and Servants or payment to the widow of such officers and servants who dies
while in service.