In any case in which an application for a loan has been made under section 7, the applicant and at any time during the currency of the loan that has been granted, the grantee, shall be bound-



(a) to comply with any general or special order of the State Government or the Director of Industries relating to the inspection of the premises, buildings, machinery and stock-in-hand of the industry;



(b) to permit the inspection of all accounts relating to the industry;



(c) to furnish in the prescribed manner full returns of all products manufactured or sold both as regards description and quantity;



(d) to maintain such special accounts and to furnish such statements as the State Government may, from time to time, require; and



(e) to submit the accounts of the industry to such audit as the State Government may prescribe:



Provided that before requiring any grantee to comply with any of the requirements of this section, notice shall be given to him in the proscribed manner.