Restrictions on leases

Notwithstanding anything contained in the Transfer of Property Act, 1882 (Central Act 4 of 1882), or any other law for the time being in force, no mortgager of property mortgaged to a Land Development Bank, shall, except with the prior information in writing to the Bank, lease or create any tenancy rights on any such property: Provided that the rights of the Land Development Bank shall be enforceable against the tenant or the lessee as the case may be, as if he himself were a mortgager.