Power to write off irrecoverable fee etc

The Market Committee may write off any fee or user charge or amount whatsoever due to it, whether under a contract or otherwise, or any amount payable in addition there with if in its opinion such a fee/user charge or an amount is irrecoverable: Provided that the Market Committee shall, before writing off any such fee or user charge, or amount obtain the sanction of the Managing Director, if the fee or amount exceeds rupees twenty five thousand.