Section 301(1)(ii) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(ii)if any such suit is in respect of land leased or sold under sub-section (3) of section 173, or in respect of any immoveable property sold or leased for a term exceeding three years or otherwise transferred, it shall not be lawful for the Council to compound or compromise in respect of the suit except with the previous sanction of the Director.