Damages against the Bank for wrongful Paper Publication

i was working in a Nationalized Bank as Senior Manager. I was inflicted the punishment of Compulsory Retirement during Sept 2016. There was inordinate delay in settlement of Retirement dues. I received PF and Gratuity during April 2018, Leave En cashment during Dec 2019 and now i have received Pension. As the Staff Housing Loan availed by me was NPA, the bank proceeded with SARFAESI Act . They issued demand notice during July 2019 and paper publication regarding Possession Notice on 14th Oct 2019 ( Before settling my Leave En cashment and Pension) Now the housing loan will be closed out of Pension Arrears and Commutation Amount. I feel that the bank has taken a wrong decision by paper publication and projecting me as a defaulter. Does this amount to defamation or can i claim compensatory damages from the Bank . Can the bank proceed with recovery action against a former employee before settling the retirement benefits.(Staff loans are given by marking lien on Terminal benefits)