Section 122 in The Gujarat Co-Operative Societies Act, 1961
122. Priority of mortgage.
(1)A mortgage executed in favour of a Land Development Bank shall have priority over any claim of the Government arising from a loan granted after the execution of the mortgage under the Land Improvement Loans Act, 1883 (XIX of 1883), or the Agriculturists' Loans Act, 1884 (XII of 1884) or any other law for the time being in force.(2)Notwithstanding anything contained in the Bombay Tenancy and Agricultural Lands Act, 1948 (Bombay XLVII of 1948), or any other corresponding law for the time being in force, where a mortgage in favour of a [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] is in respect of land in which a tenant has an interest, the mortgage may be against the security of such interest, and the rights of the mortgagee shall not be affected by the failure of the tenant to comply with the requirement of such law, and the sale of the land and tenant's interest therein under such law shall be subject to the prior charge of the [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964].
