Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in any other law for the time being in force, a mortgagor shall not be entitled to transfer or create a charge on the property mortgaged to a Co-operative agriculture and rural development bank, financing bank or a primary agricultural credit Co-operative society without the concurrence of the said bank: Provided that the said bank shall not give its concurrence without the previous sanction of the financing bank, if any: Provided further that the financing bank shall, if it accords sanction, send a copy thereof to the trustee, if any, appointed under section 45.