Section 9(4) in Tamil Nadu Panchayats (Employees Conduct) Rules, 2001
(4)No panchayat employee shall, except with the previous sanction of the panchayat, take part in the registration, promotion or management of any bank or company registered under the Banking Regulation Act, 1949 (Central Act 10 of 1949) or the Companies Act, 1956 (Central Act 1 of 1956), or any other law for the time being in force.
