Powers to write off losses

(1) The Board may, after prior consultation with the Executive Officer of the Board, write off losses upto Rs. 5,000 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. (2) The Board may, with the prior approval of the Government, write off irrecoverable debts and losses exceeding Rs. 5,000 in each individual case. (3) The Board shall take suitable action against the persons responsible for the loss and shall also send to the Government a detailed report together with the action taken against the persons, if any, responsible for the loss.