Administration Manual - B.E.S.T. Undertaking.

736
Before appointment as trainee bus conductors, candidates are required
to deposit with the Undertaking a sum of Rs.600/- each in case of
General and Rs. 300/- each in case of Reserved category. This amount
is forfeitable if they discontinue their training or their training is
discontinued by the Undertaking on any grounds whatsoever.
At the time of completion of training they are issued certificates and
are refunded the amounts paid, as deposits.
When refunds of deposits are required to be made an advance payment
bill voucher for the desired amount is passed for payment by the Final
Bills clerk in favour of the AOTr. Traffic through the Advance Register.
The amount so taken by AOTr. is utilized for refunding the amounts to
the trainee conductors on completion of their training after obtaining
the receipts from them. The balance amount remaining unpaid is
remitted to the Cash Department through a remittance slip and a
Journal Entry Bill is prepared and sent along with the receipts for the
amount expended along with the Trainee Conductors’ Deposits
Register.
5.9.10 BILLS TOWARDS ACCIDENT CLAIMS PAYABLE FROM THE THIRD
PARTY INSURANCE FUND.
Under the M.V. Act as it stood before the M.V. (Amendment) Act, 1958
was enacted, the necessity of insurance against third party risk of our
omnibuses and other motor vehicles did not arise as the State
Government had exempted the Undertaking from compulsory
insurance against third party risk pursuant to Section 94(2) of the
M.V. Act, 1988.
Though the Undertaking was exempted it has been maintaining a Third
Party Insurance Fund with sanction of the Corporation from which is
drawn from year to year monies for satisfaction of third party claims
mutually settled between claimant and the Undertaking or are
adjudicated upon by Civil Courts.