Friend cheated

Hello Sir's Good Day to all Members.Sir Please give your valuable suggestions regarding to the situation.My friend's Dad and his friend both work in one company and they took personal loan in same bank where they had salary account and kept sureity for each other.After some months the company(company) has removed the other one .He was not paying the instalments and the bank has been deducting the amount from my friends dad account every month.Now my friends dad took VRS as the company has told them since they were shifting the company for a long distance and with in two months he is going to get retired.will the bank deduct the amount from this amount???How to proceed regarding to this?That person is having a plot and heard that it is going to auction since he was not paying the housing loan.How to recover the amount?Please suggest. Thank You