Section 83B(6) in The City of Nagpur Corporation Act, 1948
(6)All such deposits and investments shall be made by the Commissioner on behalf of the Corporation with the sanction of the [Standing Committee] [These words were substituted for the words 'Mayor-in-Council' by Maharashtra 26 of 1999, Section 42.], and with the like sanction, the Commissioner may, at any time, withdraw any deposits so made or dispose of any securities and redeposit or reinvest the moneys so withdrawn or the proceeds of the disposal of the securities; but no order for making any such deposit or investment or withdrawal or disposal, shall have any validity,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 is in writing signed in the prescribed manner as for signing of cheques under section 81.
