I own along with my estranged wife, a commercial property. It is a 7 cents plot with a 2 storey commercial building. 3 cents of land in front is in my wife's name and the balance in my name, both covered by separate sale deeds. The building is in both shares and I pay the corporation tax for the first floor and she for the ground floor. The local district co-op. bank has advanced her a huge loan about 15 years back, on the influence of some board members. The bank has taken the title deed of her share as security, without ascertaining the building details, ownership etc. They did not even inform me. Now the loan has become NPA and the bankers have attached her share. They are unable to auction the property since the building is in both shares and no bidder will come forward.
What is the legal remedy for me since the bank is not willing to transfer the property even if I am willing to settle the dues?
