Section 313(1)(e) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(e)the financial position and the credit of the Council is seriously threatened, [the State Government may, after giving the Council a reasonable opportunity of being heard by an order published in the Official Gazette, stating the reasons therefore, dissolve the Council.] [This portion was substituted for the portion beginning with the words 'the Government may' and ending with the words 'from time to time determine' by Maharashtra 41 of 1994, Section 153(a).]