Power to write off

(1) The Board may on the recommendation of the Finance Committee of the Board, write of losses upto Rs. 1,000/- falling under any or all of the following categories :- (a) Loss of irrecoverable value of stores of public money due to theft, fraud, etc. (b) Loss of irrecoverable advance other than loans; and (c) Deficiency and depreciation in the value stores. 2. The Board shall take suitable action against the person responsible for the loss and send a report to the Government or Commission, as the case may be. Explanation: Nothing contained in this rule shall apply to loss occasioned by irrecoverable loans. Sanction of the Government or Commission, as the case may be, shall be obtained before such losses are written off.