Owner voluntarily given her land agasint guarantee of loan. You had to beware before purchase of any such encumbrance. Bank right is prior on land. And you have been cheated by seller. File FIR against them.
And if land is under agriculture use, than bank cannot proceed agasint the land. No attachment under sarfaesi.
Bank cannot force you but can proceed agasint the land, No recovery from you,
Only one case will proceed - DRT. File application u/s 10
You are not at all liable to pay anything, neither land can be attached. Put there under absolute agriculture use.