117. Provision of Penalty against acquisition of interest by a member office-bearer or servant in any agreement.
- If a member of office - bearer or servant of a Panchayat knowingly acquires directly or indirectly any personal share or interest in an agreement entered into or any employment made with or by or on behalf of the Panchayat without being allowed or permitted by the prescribed authority, then as to him it shall be held that he has violated the contract and shall be penalized for this under the Indian Penal Code.
