Leasee inconvenienced because Owner has mortgaged property
I am a leasee in a property, which has been mortgaged by the owner . There are 2 more tenants in the same premises, all of whom are under lease as well. The owner has failed to repay the bank(Outstanding amount around - 6.8Cr (property value is around 1Cr)) and is absconding , and has not repaid any of the tenants (us).
However, we were contesting a stay on the premises in the local DRT(Bangalore), which was dismissed last week and have not considered as tenants inspite of providing all the proof/bills for being a tenant in the premises for the past 2.5 years.
All the tenants unfortunately, were not aware that the lease agreement which is registered provides security. All our lease agreements are on stamp paper alone.
Please let me know how we can contest the case further, and the procedure for the same to recover our money, by being in possession of the property.
The tenants are being traumatized for the fault of the owner.
Your Help on the same is highly appreciated.