If your brother is willing to relinquish his share in flat accept the offer 

2) relinquishment deed should be duly stamped and registered 

3) transfer flat in your name then sell the flat 

4) in alternative sell flat now and pay brother his share 

5) if your brother stops paying EMI and you are unable to pay his share also bankwill auction the flat

See if he default in loan that can be further issue so instead that talk with bank get loan restructured transfer the property completely in your name. There won't be any way to force him to pay the loan amount.

You can file  interim relief petition in your jurisdiction court. 

if there is a loan default then loan account will become NPA and bank will initiate action under SARFAESI Act to sell the mortgaged property by public auction

so it will be in your interest to continue paying the loan

if you do not wish to become full owner of property then only option for you will be to continue paying the loan and recover the share in loan of your brother which you are required to pay by filing a money recovery suit against him

1. Well, now since the proeprty is mortgaed with bank if no EMI is paId it would become NPA and the bank will inItiate proceeding under SARFAESI to attach and sell this property.

2. the bank has nothing to do with the contrubution of each borrower. Once there would be default in EMI it would start attaching the proeprty.

3. So resolve the dispute amicably. Since your brother is willing to reinqish his half sahre, take this opportunity. Otherwise you would loose the whole proeprty. If you pay the whole EMI then also your brother will remain its half owner.

4. So agree to his proposal.

If your are unable to pay emi then sale the flat

Your brother reliquensh his right accept and transfer flat on your name and pay full emi

Deed must duly stamped and registerd

You have only two options one is pay emi and second sale the flat and pay bank dues

1. As per the information mentioned in the present query, makes it clear that the property was bought on joint name and suppose to be paid equally.
2. Even if they want to relinquish their right then also they can only give their portion to you, but can’t release their right to pay half without your consent to it.
3. And if they are not paying then bank may pul up their coller for my paying.
4. I advice you to make an application in the concerned branch of bank stating hue willingness to not to pay now.
5. Tell them that you may only be able to pay your part, but not his otherwise in future things would come to you only.
6. And if possible you file a suit before civil court of law for performance of that part of tnte agreement where he has also agreed to pay.

If your brother is not ready to share the EMI the EMI should be paid by you and you can ask for the reinforcement of the share in the property by your brother.

If you cannot continue with this EMI then the option of selling the property is open to you after getting the relinquishment by your brother you may have the option to sell it.

If your brother do not want to repay the loan amount along with you, then you can pay the same and recover it from him by legal means;

or he can relinquish his rights in the property, after which  you can repay the entire loan by yourself or can sell the property to the prospective buyer and get rid of this issue permanently.

You cannot force your brother to share the burden if he is unwilling, you can take legal steps as required in furtherance

You have stated you are not position to pay full EMI for loan 

better sell the property repay the bank loan and divide sale proceeds equally 

He has to execute a registered gift deed in your favor in respect of his share in the property after which you would become the sole owner with clear and marketable title to the property. 

Before that the lender bank has to issue NOC for this. 

You talk to him for an amicable settlement. 

Execute release deed, it should be duly stamped and Registered 

if he is consenting then he can register a gift deed in your favour

the above will require payment of stamp duty and registration fee

next option is to file a collusive suit for a declaration that you are sole owner of the property, against your brother

the brother can then admit your claim and consent terms can be drawn and submitted to court

however the consent decree passed in pursuance of the consent terms will also require registration and may be stamp duty too [since the brother will be releasing his right in the property without consideration which is essentially a gift which attracts stamp duty]

so you can opt for the first option of gift deed which is straight forward but which comes with costs

however that costs is not comparable to the actual value of the property and by doing the gift deed you will become sole owner of a valuable property 

1. You have to take NOC of the bank for transfer of property in your favor, after you get NOC your brother can make a registered gift or sale deed in your favor by paying stamp duty and registration to transfer property in your favor.

you can do the same first by mutual agreement and if not agreed then you need to approach the court

Get Release / Relinquishment Deed executed in your favor by your brother by paying stamp duty and registration charges, thereafter, using the same, it can be changed.

Next option to gift his share in your favor by your brother by paying stamp duty and registration charges.

Before doing the same, you need to obtain NOC from your lender.

- Since, your brother is joint owner and joint borrower of loan , then you both are accountable for pay the loan of the bank . 

- Further , as your brother not interested to continue , then take a Relinquishment deed or Gift deed in your favour to become the single owner of the property , and submit the same with the bank .

- Further , if you are unable to pay the emi amount , then sell the said property after taking NOC from the bank . 

- Further , you can also extend the loan period to pay as well , if you are interested with the property. 

A relinquishment deed will have to be filed, by means of which your brother will relinquish the share in your favor. 

Regards