Private loan taken by one of our employees from Bank

One of our employee has taken a loan of around Rs.9 lacs from a Bank. Our organization was not aware of such loan and we have never stood as Guarantor in any way. We are a private limited company. Now the concerned employee has not been repaying the loan to the Bank. The Bank has sent us an Interim Order through their Arbitrator, who has ordered our organization to debit a certain amount from the employee's salary every month and credit it to the Bank. Please advise are we bound by this order ? Or we can intimate to the bank that it was a private dealing between our employee and the bank and we are not bound to act upon its Interim Order.