Rights of tenants not alienable

Subject to the provisions of this Act a tenant shall not be entitled to alienate the land in respect of which he continues as a tenant under section 6 except by way of a simple mortgage to a co-operative society or a bank registered under the Karnataka Co-operative Societies Act, 1959 (Karnataka Act 11 of 1959), or the State Bank of India and its subsidiaries or a bank specified in column (2) of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970 (Central Act 5 of 1970) or to a company or a corporation, owned or in which not less than fifty per cent of the share capital is held by the State Government or the Central Government or partly by the State Government and partly by the Central Government and which has been set up to provide agricultural credit to cultivators.