The Indian Schools board of directors has said the alleged 2009/2010 financial loss at Oman's Indian School Sur was a "procedural lapse," Times of Oman has reported. "There is no loss in school funds. It is only a procedural lapse," Tony George Alexander, chairman of Indian Schools, told the daily. Parents of Indian School Sur students had alleged misuse of school funds in 2009/2010, and said that the inquiry committee instituted in February 2012 to probe the matter is yet to submit the report. "We have received the report and I don't see any intentional delay in report submission. As the inquiry team was new and they had to collect the details of almost four years back, this delay has occurred," Alexander said.