1. Bank accepted your bid and you have paid EMD
2. So contract is concluded between you and bank
3. If you back out then bank can forfeit your EMD as per terms of auction sale
4. Payment of electricity bill by borrower has got nothing to do with the borrower owner being entitled to stop auction of his property
5. Conclusion of contract between you and bank is not dependent on your kyc submission
6. Check advertisement in public notice for auction sale terms