Section 98(3) in The Punjab Panchayati Raj Act, 1994
(3)Every Panchayat Samiti shall, by the name of the Block for which it is constituted, be a body corporate having perpetual succession and a common seal and subject to such restrictions as are imposed by or under this Act or any other law, shall be vested with the powers of suing or being sued in its corporate name, or acquiring, holding land, transferring property, movable or immovable, whether without or within the limits of the area over which it has authority, or entering into contracts and of doing all things, necessary, proper and expedient for the purpose, for which it is constituted.
