Amendment status not verified — confirm the current text below against the official source.
The Board shall be competent to write off losses up to Rs.500/- in individual cases and not exceeding Rs. 5,000/- in the aggregate in any or all of the following categories. (a) loss of irrecoverable value of stores or of public money due to theft, fraud or such other cause (b) loss or irrecoverable advance other than loans and (c) deficiency and depreciation in the value of stores. Draft provisions in the State Khadi and Village Industries Board Act relating to the appointment, duties, etc. of a Financial Adviser and Chief Accounts Officer. Act Rules (1) The State Government shall appoint a person, not being a member to be a Financial Adviser and Chief Accounts Officer of the Board. (2) The Financial Adviser and Chief Accounts Officer shall advise the State Board on all matters relating to receipts and expenditures of the Board. (b) The Financial Adviser and Chief Accounts Officer shall supervise the arrangements of Accounts and Audit by the Board and shall assist in the preparation of its budget. (c) The Financial Adviser and Chief Accounts Officer shall have the right to record his views on every proposal involving expenditure from the funds of the Board, and shall have the authority to advise the Board that a particular decision or proposal affecting the fmancial policy and directions of the State Government and/or the Khadi and Village Industries Commission should be referred to the State Government and/or the Commission as the case may be. (d) The Financial Adviser and Chief Accounts Officer shall have the right to attend every meeting of the Board and its Committees, but shall not have the right to vote thereat