Section 14(4) in First Statutes of the Indian Institute of Petroleum and Energy, 2018
(4)The Director, where he is the approving authority, shall have the power to write off irrecoverable losses up to Rs.2000/- and of irrecoverable value of store items lost or rendered unserviceable due to normal wear and tear up to Rs.5000/- in any individual case subject to such stipulations as may be laid down by the Board from time to time.
