Decree of loan recovery

You are personally liable to discharge loan, if you have any asset in your name they can proceed on it but it has transfered so they cannot attach it, engage advocate and defend it if they attach it.

Since you have transferred the property from  your name to your wife's name even before the bank initiated legal action for recovery then this transfer cannot be declared as illegal or invalid.

As a result, no assets can be taken.

In the case of a dispute, recovery is determined by the loan contract terms and conditions and the legal process. 

You may not be worried about that

Bank can't  attach the property which you have transferred to your wife before initiation of legal action by bank.Now its your wife's property and can't be  attached.

Well analysed, opined and advised by experts, I concur.

After acceptance of gift, you have no right, claim, interest or title over such (gifted) property and your wife is a separate persona for the purpose of attachment by Court / Tribunal.

Besides immovable property the Court / Tribunal may consider to attach movable properties of judgment debtor.