Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything contained in any law for the time being in force, an agriculturist who has availed himself of financial assistance from a bank by creating a charge or mortgage on land or interest therein, shall not, so long as the financial assistance continues to be outstanding, lease or create any tenancy rights on such land or interest therein without prior permission in writing of the bank if he has not already leased or created tenancy rights thereon at the time of availing of the financial assistance from the bank. Restrictions on creation of tenancy by agriculturist borrower. (2) Any lease granted or tenancy rights created in contravention of this section shall be void. CHAPTER IV ARRANGEMENTS FOR RECOVERY OF DUES BY BANKS