hello sir, I have taken loan (no mortgage) from IDBI bank for MSME industrial setup by RBI. Due to some economy slow down i am not able to pay the EMIs and my loan account has become NPA . My case also moved to debt recovery tribunal. We have also given bank guarantee (14.5 lacs) to the customs department in a case against customs department. The bank guarantee matter is totally diffrent from loan. In the bank guarantee i have given my residential property papers (50 lacs) to the IDBI bank, the property is in the name of my wife and me. During the time of BG renewal, bank manager told me that they cannot renew the BG of NPA accounts and they invoked the BG. We have talked to the bank manager to release our property papers if we deposite the bank guarantee amount. Now they are not ready to releasae our property papers as they are saying that my loan account is overdue. As the property is in the name of my wife also, my wife also requested the bank to release the papers, but they are not ready. My wife is in no way related to my business and loan. During loan documentation papers i have given my undertaking to create mortgage. Please tell me what i can do to get my property papers released. Thanks
