Dear Mr. Sathish,
Your post is not at all clear.
You say it happened in the year 1995. Please indicate what happened in the year 1995?
If the guy2 had already sold the property to you (which means you have already purchased the property), what is the bank loan that you are taking about now?
Therefore, if you need any solution to any of the problems faced by you, better be clear about facts. Do not assume things that the experts here know. You have to give clear details and then ask your query.