Section 25 in The M.P. Krishi Upaj Mandi Adhiniyam, 1972
25. Mode of making contracts.
(1)Subject to the provisions of this Act, no contract or agreement on behalf of the Market Committee for the purchase, sale, lease, mortgage or other transfer of, or acquisition of, interest in immovable property shall be executed on behalf of the Market Committee except with the sanction of the Market Committee.(2)Save as provided in sub-section (1),-(a)the Secretary of the Market Committee may execute contract or agreement on behalf of the Market Committee where the amount or value of such contract or agreement does not exceed rupees [one thousand] [Substituted by M.P. Act No. 24 of 1986 (w.e.f. 21-7-1986).] regarding matters in respect of which he is generally or specially authorised to do so by a resolution of the Market Committee;(b)The Chairman and the Secretary of the Market Committee may jointly execute contract or agreement on behalf of the Market Committee where the amount or value of such contract or agreement does not exceed rupees [five thousand] [Substituted by M.P. Act No. 24 of 1986 (w.e.f. 21-7-1986).];(c)in any case other than those referred to in clauses (a) and (b), a contract or agreement on behalf of the Market Committee shall be executed by the Chairman, the Secretary, and one other member of the Market Committee, who shall have been generally or specially authorised by a resolution of the Market Committee to do so.(3)Every contract entered into by the Market Committee shall be in writing and shall be signed on behalf of the Market Committee by the person or persons authorised to do so under sub-section (2).(4)No contract other than a contract executed as provided in sub-section (1), (2) or (3) shall be valid or binding on the Market Committee.(5)(a)Notwithstanding anything contained in the Registration Act, 1908 (No. 16 of 1908), it shall not be necessary for the Chairman or any Member or Officer or Secretary of a Market Committee to appear in person or by agent at any registration office in any proceeding connected with the registration of any instrument executed by him in his official capacity or to sign as provided in Section 58 of that Act.(b)Where any instrument is so executed, the Registration Officer to whom such instrument is presented for registration may, if he thinks fit, refer to such Chairman, Member, Officer or Secretary for furnishing information respecting the same and shall, on being satisfied of the execution thereof, register the instrument.(6)Where a contract or agreement is entered into on behalf of a Market Committee, the Secretary of the Market Committee shall report the fact to the Market Committee at its meeting convened and held immediately following the date of entering into a such contract or agreement.[Chapter IV-A [Inserted by M.P. Act No. 18 of 1979 (w.e.f. 7-6-1979).] Budget]
