Section 16(4) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(4)A person shall not be deemed to have incurred disqualification under clause (f) of sub-section (1) by reason only of his being an officer or member of a Co-operative Society, which advances or has advanced a loan of money to, or borrows or has borrowed money from, any officer or servant of the Council.
