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Can Estate Agents owning a flat in a society become Secretary/Chairman/Treasurer?

26 January 2021 The Blue , Thane

We have a flatowner couple who run a real estate agency shop/business and one of them has also held the post of secretary & treasurer of the society.
They have brokered sale and lease of flats in the society also.
This is a clear conflict of interest.
It this legal? Can someone like this be allowed to hold a post in the managing committee?

Related to society committee

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