While Prasad stands disqualified for a total of 11 years - five years of jail term and six years subsequent to his release - Sharma stands disqualified for ten years - four years in jail and six more years after that as per electoral laws.
Theirs is the first disqualification from the Lok Sabha after the Supreme Court struck down a provision that protects a convicted lawmaker from disqualification on the ground of pendency of appeal in higher courts.
The first disqualification from Parliament came yesterday when 66-year-old Masood, a Congress member of the Rajya Sabha, was held guilty in a case of corruption and other offences in September.
Lok Sabha Secretary General S Bal Shekar has issued the notifications disqualifying Lalu and Sharma. The Election Commission has also been intimated about the disqualification and the subsequent creation of vacancies in the Lok Sabha.
Their disqualification came last night after Rajya Sabha disqualified Congress MP Rashid Masood earlier yesterday after his conviction in a graft case.
65-year-old Prasad, convicted in the fodder scam, was sentenced to five years in prison and imposed with a fine of Rs 25 lakh. He was till now an MP from Saran in Bihar.
Sharma (63) too was sentenced to four years imprisonment in the case. He represented Jahanabad in Bihar.
The Rajya Sabha notification said Masood stands disqualified as an MP from September 19, the day he was convicted by the CBI court.
Citing provisions of the Representation of the People Act, it said he will remain disqualified for the period of his sentence and will continue to remain disqualified for a further period of six years after his release.