Lease tenant VS Bank

3 years ago

Thanks in advance for your Valuable Legal Suggestion. Myself Kumar from Bangalore. Almost with 7 years of My saving planned to take a house for lease amounted Rs.10 Lakh, which help me in struggling to pay every month paying rent! With this intension I have found one house which has Two floor I selected for 1st floor and with 200 rupees’ stamp paper i have entered with Lease agreement, even the ground floor tenant staying on lease. Everything was going fine all of sudden we got notice that this property under Tata capital housing Finance pledge. The bank has given initial notice to Building owner that he has not paid the emis from quit long time and the property might go for Auction after few steps completed by bank. With this shock we tried to contact Building owner but unfortunately he got Abscond. We started to enquire about this loan, While I was entering loan I checked Certified EC copy, there was only the Building owner name was reflecting no Tata capital Name, even today its same. Since EC was reflecting owner name only i was in assumption of No loans. Now with no option i approached my know Lawyer he suggested to get mine & ground floor tenant both lease agreement to registered. We have paid Stamp duty & penalty got registered ( Around 58000 paid ). again here we are still in confusion, my lawyer raised one case in session court & it took almost 1 year and got rejected since its it not fit to Session court and need to approach DRT. But since financially we can’t deposit huge amount on DRT like half amount of Loan due which is 1.25 CR we denied to appeal DRT. Week before we got Final notice from Bank stating they are approaching Magistrate Court for possession order and we need to vacate within a week. on final we approached honorable court for Stay / Injunction order but since it comes Surface Act they denied to provide Stay Order. Now i am feeling I am Done. Based on this details, is there any chance to get back my Lease amount or extend this possession process ( make it as much as possible delay ) .
Supportive info : Bank Loan taken 25.02.2018 ( purchase loan ), I entered to Lease agreement 01.07.2019 to 30.06.2021, Here one more shocking thing why loan name is not reflecting in EC also the property consideration value shown in EC is 90 Lakh and the loan given for full consideration value.

Please save two families with your Valuable Legal Advice. Unfortunately, the Ground floor tenants are senior citizen with one & only Handicap Son. Even their life time saving amount of 8 Lakh given to Building owner towards Lease!