Amendment status not verified — confirm the current text below against the official source.
(1) Every contract or agreement entered into by a Market Committee for the purchase, Mode of making sale, lease, mortgage or other transfer of, or acquisition of interest in immovable contract. property shall , in writing, be executed on behalf of Market Committee jointly by its Chairperson, Vice- Chairperson and the Secretary , with the sanction of the Market Committee, as may be prescribed. (2) No contract other than a contract executed as provided in sub-section (1) shall be valid and binding on the Market Committee.