Section 130(4) in The Maharashtra Zilla Parishads and Panchayat Samitis Act, 1961
(4)[ The Zilla Parishad may, from time to time, with the previous approval of the State Government invest any portion of the district fund-(a)in the securities of the State or Central Government or in such other securities as the State Government may approve in this behalf;(b)in the purchase of shares of co-operative societies, or shares or debentures of any corporation (including a company) owned or controlled by the State, as the State Government may, by general or special order approve in this behalf, and vary such investments for others of the like nature and the income resulting from the securities, shares or debentures and the proceeds of the sale of the same shall be credited to the district fund].
