Power to write off losses

(1) The Board may, after prior consultation with the Financial Adviser and Chief Accounts Officer to the Board, write off losses upto one thousand rupees in individual cases falling under any or all of the following categories, namely :— (a) loss of irrecoverable value of stores or of public money due to theft, fraud or such other cause; (b) loss of irrecoverable advance other than loans; and (c) deficiency and depreciation in the value of stores. (2) The Board shall take suitable action against the persons responsible for the loss and shall also send to the Administrator a detailed report together with the action taken against the persons, if any, responsible for the loss. Explanation—Nothing contained in this Regulation shall apply to losses occasioned by irrecoverable loans and losses exceeding one thousand rupees in each individual case and sanction of the Administrator shall be obtained before such losses are written off.