(1) Every member, Chairperson, and every municipal officer and other municipal
employee shall be liable for the loss, waste, or misapplication of any money or other property owned by
or vested in the Council, if such loss, waste or misapplication is a direct consequence of his neglect or
misconduct and a suit for compensation may be instituted against him by the Council with the previous
sanction of the Central Government or by the Government.
(2) Every such suit shall be instituted within three years after the date on which the cause of action arose.
(2) Every such suit shall be instituted within three years after the date on which the cause of action arose.