Property sold without paying debt

You can file a suit against recovery of loan.  If the bond/agreement is having a binding clause about the property, you can even lodge a criminal complaint against him, since he has sold the property without repaying your debts.

You should file a money recovery suit immediately before the time of three years lapses from the date of loan.  If he has sold  the property you cannot do anything about it because he has not pledged the property for the purpose of loan neither he has  submitted the original documents as collateral security for the purpose of loan.  You may look for some other property in his name for attaching the  same before judgement in the money recovery suit or you can include this property itself  as if you are not aware of the sale of this property, let him come out with the fact to the court once he has been summoned.