Illegal fund raise through loan by builder and sold the property

My builder had done fraud by raising the fund and taking loan from bank on property by help of dummy buyer but dint register it. Later he sold the property to me with outstanding loan and that dummy buyer is nit paying back loan. 
After knowing all this i forced him to settle this. He has canceled the loan and saying i will payback amount gradually. 
What action bank can take against me in case of non payment. I have all docs in my name(sale deed, agreement, ec). 
What precautions i can take to safeguard myself


If the loan is against the property which you purchsed then you have to settle the loan to secure your property


Retired employee.

First inquire as to whether there are some more victims like you (through Bank) and contact a local advocate who can study all documents and can suggest suitable remedy.  The query lacks clarity.


In my understanding, such instances are quite common. The Banks are yet to evolve a policy in dealing and settling them.


Lodge criminal complaint against him



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