Business went into loss and unable to pay back multiple loans

We have a business started without any capital and got help from financial institutions by showing good transactions over the period of time, it was running well for two years till the last year April, and things started changing next month onwards from May as orders and payments started to fade away. Gradually loans piled up, cash flow reduced drastically, paid existing EMIs, salaries, rents with available amounts which we already borrowed from banks and NBFCs. Now we have started getting notices and court summons from various financial institutions as we defaulted in multiple loan EMIs and accounts moved into NPA stage. We do not have anything to pay back right now, not even court fees, but know that we can manage if we get some buffer time for couple of years and we have genuine intension to pay back. The amount of loan is such that the only way to pay back is through business. Kindly suggest what we should do as we already have two court summons this month for two different loans and expecting more soon. My question is: 1)What is the legal procedure to solve this kind of situation? 2)How much maximum time we can ask to the banks and NBFCs? 3)Do we have to hire a lawyer to respond the court summons as we do not have money to pay? 4)We do not get the enough time to pay back and if they ask for settlement, what should we do as we do not have money to settle the matter as well? 5)What is the maximum punishment in such cases? 6)We got a court summon from other city too, what should we do?