Can banks attach property for unpaid loan settlements?

I received a legal notice from the Tehsildar regarding repayment of a loan taken from Kotak Bank. I had borrowed ₹1,70,000 and have already repaid ₹1,03,000. However, the bank is now demanding ₹1,46,000. Although the bank offered a settlement of ₹90,000, I refused because I considered the amount excessive. The Tehsildar's notice states that my movable and immovable properties may be attached if I fail to pay the full amount. I have settled around 12 other loan and credit card accounts at approximately 20–25% of the outstanding dues, but Kotak Bank is demanding a significantly higher amount. What legal remedies are available to me?