Section 91B(6) in The Maharashtra Municipal Corporations Act, 1949
(6)All such deposits and investments shall be made by the Commissioner on behalf of the Corporation, with the sanction of the Standing Committee, and with the like sanction, the Commissioner may at any time withdraw any deposits so made or dispose of any securities and re-deposit or re-invest the moneys so withdrawn or the proceeds of the disposal of the securities; but no order for making any such deposit or investment or withdrawal or disposal shall have any validity unless the same be in writing signed by two persons in the manner specified in sub-section (1) of section 84 for signing cheques.
