How to Handle a Lost Company Gadget When You Need a Relieving Letter Urgently?

I needed a relieving letter from my previous organization to provide immediately for joining another company. The HR told me to check if all company assets are surrendered, which I have already submitted with my colleague (as no local office of that company is present in my city or nearby).

However, out of all the assets, he lost one gadget which was inoperative and in a non-working condition. I had already informed the IT department about this while I was working there. Kindly suggest what to discuss or negotiate for the relieving letter now.

If you have a written acknowledgment from your colleague for the receipt of the assets, it is sufficient.

Then, you are only responsible for the missing item, whether it is obsolete or not. It is left to the discretion of the present employer to write it off. That's the only way to solve the problem quickly and move on as you desired.