Section 35 in The Khadi and Village Industries Commission Rules, 2006

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Union of India - Section

Section 35 in The Khadi and Village Industries Commission Rules, 2006

35. Power to write off losses.

(1)The Commission may, after prior consultation with the Financial Adviser, write off losses up to Rs.20,000 falling under category (a) and Rs.10,000 for categories (b) and (c) below,-

(a)irrecoverable losses of stores or of public money due to theft, fraud or negligence;

(b)loss of revenue or irrecoverable loans and advances; and

(c)deficiencies and depreciation in the value of stores.

(2)The Commission 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. The cases involving losses not exceeding Rs.5, 000 shall not be reported to the Government unless there are in any case important features which merit detailed investigation and consideration.Exception: Nothing contained in this rule shall apply to losses occasioned by irrecoverable loans. Sanction of the Government shall be obtained before such losses are written off.

(3)The Commission, the Chief Executive Officer and any other officer duly authorised by the Commission may after prior consultation with the Financial Adviser, write off losses up to an amount indicated below against each falling under any or all of the categories mentioned under sub-rule (1) above -

(a)	Commission	Up to Rs. 20,000
(b)	Chief Executive Officer	Up to Rs. 10,000
(c)	Any other officer, not below the rank of a Deputy ChiefExecutive Officer	Up to Rs. 5,000

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Union of India - Section

Section 35 in The Khadi and Village Industries Commission Rules, 2006

35. Power to write off losses.