Section 127(1) in The Maharashtra Co-Operative Societies Act, 1960
(1)Notwithstanding anything contained in the Transfer of Property Act, 1882 or any other law for the time being in force, no mortgagor of property mortgaged to [a Co-operative Agriculture and Rural Multi-purpose 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.], shall except with the prior consent in writing of the bank, and subject to such terms and conditions as the bank may, impose, lease or create any tenancy rights on any such property:Provided that, the rights of [a Co-operative Agriculture and Rural Multi-purpose 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.] shall be enforceable against the tenant purchaser;, the lessee or the tenant, as the case may be, as if he himself were a mortgagor.
