section 10
Restrictions on creation of tenancy by agriculturist borrower.
The Maharashtra Provision of Facilities for Agricultural Credit by Banks Act, 1974Finance197425 sections6 chapters
Chapter III Charges and mortgages in favour of banks and priorities thereof
Statutory text
- (1) Notwithstanding anything contained in any law for the time being in force, an agriculturist, who has availed himself of financial assistance from a bank by creating a charge or mortgage on land (or interest therein), shall not, after he had availed of such assistance and so long as such assistance continues to be outstanding, lease that land (or interest therein) or create any tenancy rights thereon, or enter into an agreement of sale without prior permission in writing of the bank.
- (2) Any lease granted or tenancy rights created in contravention of this section shall be void.
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