Section 127 in The Maharashtra Co-Operative Societies Act, 1960
127. Restrictions on lease.
(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.(2)Where land, mortgaged with possession to [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.], is in actual possession of a tenant, the mortgagor or [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.], all give notice to the tenant to pay rent to [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] during the currency of the lease and the mortgage, and on such notice being given the tenant shall be deemed to have attorned to [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.],
