Amendment status not verified — confirm the current text below against the official source.
Restrictions on lease.- (1) Notwithstanding anything contained in the Transfer of Property Act, 1882 or any other law for the time being in force, no mortgagor of property mortgaged to a 1 [Agriculture and Rural Development Bank] 1 , shall except with the prior consent in writing of the Bank, and subject to such terms and conditions as the Bank may impose, lease or create any tenancy rights on any such property: Provided that the rights of the 1 [Agriculture and Rural Development Bank] 1 shall be enforceable against the tenant purchaser, the lessee or the tenant, as the case may be, as if he himself were a mortgagor.