IREC Rule No.1205: Value Of Compensation For Loss Of Personal Property

1205.  Value Of Compensation For Loss Of Personal Property:-

When anyone of the conditions in Rule 1204 is satisfied, compensation may be granted to the railway servant, as an act of grace and, at the discretion of the competent sanctioning authority, up to the value of the necessaries lost by him. The value of the property lost must, for the purposes of assessment of compensation, be taken at the value the articles would have realized if sold at the time of loss and not at the cost of replacing them by new articles. 

Note: The question whether the articles lost are ‘Necessaries’ within the meaning of this rule will be determined by the sanctioning authority with reference to the railway servant’s personal standing and circumstances.