Amendment status not verified — confirm the current text below against the official source.
Payment of interest to Government.—In respect of assets of the Government which vest in the Board by virtue of the provisions of this Act, the Board shall pay interest on the cost of such assets at such rate as may, from time to time, be fixed by the Government in consultation with the Board and such interest shall be deemed to be a part of the expenditure of the Board.]1 1[24C.Power to write off irrecoverable amounts.- The Board shall have power to write off any amount or sum due to it, if, in its opinion, such amount or sum is irrecoverable: 20 Provided that the Board shall, before writing off such an amount exceeding twenty-five thousand rupees, obtain the sanction of the State Government.]1