Power to write off losses.

The Board shall be competent to write off losses upto Rs. 500/- in individual cases and not exceeding Rs. 5,000/- in the aggregate in any financial year in cases falling under any or all of the following categories: (a) loss of irrecoverable value of stores or of public money due to theft, fraud or such other causes; (b) loss of irrecoverable advance other than loans; and (c) deficiency and depreciation in the value of stores.