(2)If an application is submitted during the pendency of an appeal filed under subsection (1) the president may, by order, stay the operation of the notice, order or other action appealed against. Every case in which an order has been passed shall be reported by the president to the panchayat at its next ordinary meeting with the reasons for making such an order and the panchayat shall either confirm such order with or without modification or revoke it, failing which it shall stand cancelled.