Section 120(2) in The Maharashtra Co-Operative Societies Act, 1960
(2)Notwithstanding anything contained in the Bombay Tenancy and Agricultural Lands Act, 1948, or any other corresponding law for the time being in force, where a mortgage in favour of [a Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25.8.2005), Section 8.] is in respect of land in which a tenant purchaser or tenant has an interest, the mortgage may be against the security of such interest, and the rights of the mortgage shall not be affected by the failure of the tenant purchaser or tenant to comply with the requirements of such law, and the sale of the land and his interest therein under such law be subject to the prior charges of [a Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25.8.2005), Section 8.].
