Seeking Advise In Case Of Guarantor For Immovable Property

In my case, I am a guarantor. the cooperative bank failed to auction mortgaged property due to a lack of buyers cause higher auction value. Now the bank is in the process to recover the part loan by transferring the property in favour of itself, under Section 100, for Transfer of property that cannot be sold, as per the Maharashtra Cooperative Societies Act 1960. On the approach of the Bank towards District Deputy Registrar of Co-operative Societies, notice was issued by DDR to be present to express my stand on the transfer of property, but I was absent due to nonreceipt of such notice and considering my absence as no objection, DDR had issued a certificate to Bank to transfer the property on their behalf & instructed bank to rented out the same till the time get the appropriate buyer and recover the balance due from defaulters if any. Please advise being discharged from guarantor liabilities under Section 133 of Indian contract act due to property transfer variance & any sections if.