Section 74(1) in Punjab Panchayat Samitis and Zila Parishads Finance, Budget and Accounts Rules, 2014
(1)Whenever any loss of money, revenue or receipts, stamps, stores, etc., held by or on behalf of the Fund caused by defalcation or otherwise is discovered, it should immediately be reported to the Executive Officer or the Chief Executive Officer, as the case may be, as well as to the Government, even when such loss has been made good by the party responsible for it.
