hello sowjanya
I can understand your situation,
i would like to sugges that if u don't have much finacial craisis, i meant to say 'not depend on salary only', then u should leave it, and search another job. coz if once mgt surely don't want any change then we cannot do any thing under this circumstances. and anyones' support , if u waste ur much time in this situation, then it will become more tough to u to search another good job.
Don't waste ur time and career, it is only my suggestion,
afterall you should take final desicion.
Best luck
Regards
Sweta