1. The Bank has initiated SARFAESI Proceeding against you for being defaulting borrower.
2. Before the rceiving the e-auction notice, you were supposed to have been issued with Demand Notice and Possesion Notice u/s13(2) & 13(4) of SARFAESI Act,2002 respectively.
3. On receipt of the 13(2) notice, you were to send your representation u/s13(3A) of the Act and the Bank was to give reply to the said represenation within two weeks therefrom.
4.If you have not received any of the above notices issued by the Bank, you should now file a SARFAESI Application (S.A.) before the local Debt Recovery Tribunal (DRT), praying for a stay order on the said e-auction on the that no such notices were sent to you as per the Act by the Bank.
5. You can also send a settlement proposal to the Bank.
6. In addition to the above, you shall have to find out the Bank's error/negligence in providing/disbursing the sanctioned loan to you for which you have suffered loss and mention those aspects in your S.A. to be filed before the DRT before the sale takes place.
7. Engage a local lawyer having expertise in this field.