[26B. Power of Board to write off losses.(1) The Board shall be competent to write off losses up to five hundred rupees in individual cases, but not exceeding five thousand rupees, in the aggregate in any financial year, in cases falling under all or any of the following categories that is to say
(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.
The Chairman shall be competent after prior consultation with the Financial Adviser to write off losses up to two hundred rupees in an individual case, but not exceeding two thousand rupees, in the aggregate in any financial year.
(2) On any loss being written off, the Board shall send to the State Government detailed report thereof, together with a report on the action taken (if any) against any person or persons, responsible for the loss:
Provided that cases involving losses not exceeding two hundred rupees need not be reported to the State Government, unless in the opinion of the Board there are important features connected with such losses, which required proper investigation and considerations.]