71. When the mortgaged property is a lease 1 ***, and the mortgagor obtains a renewal of the lease, the mortgagee, in the absence of a contract to the contrary, shall, for the purposes of the security, be entitled to the new lease.
Transfer of Property Act, 1882
Section 71: Renewal of mortgaged lease
Chapter IV — Of Mortgages of Immoveable Property and Charges
Source: official text of the Transfer of Property Act, 1882.