Section 46(3) in The Bombay Tenancy and Agricultural Lands Act, 1948
(3)So long as the management continues the holder of the estate shall be competent-(a)to enter into any contract involving the estate in pecuniary liability.(b)to mortgage, charge, lease or alienate the property under management or any part thereof, or(c)to grant valid receipts for the rents and profits arising or accruing therefrom;Provided that nothing contained in this section shall be deemed to preclude the Manager from letting and the holder from taking the whole or a part of such estate on such terms consistent with this Act as may be agreed upon between the parties;
