Builder Duped Me To Build Three Floors And Announced Himself Bankrupt

I had an 8 month agreement wid a builder to construct my house in 3 floors wid basement wherein he can keep 2nd floor but he didn't finish the construction Even after 2yrs of the said time and just finished 2 lanters that to incomplete and said he can't do any further construction as he is bankrupt so later we had 2nd agreement where whatever he spent on our house i.e 8.5 lacs as per him we had to give him but at the time of agreement he did not mentioned the time limit wherein we asked him to write down 2yrs or wen the property will be sold but he said that it's mutual and no need to write. now he filed a complaint in police within 5 months of the 2nd agreement and forcing us to pay which we can't until the property is sold. Now he wants us to do 3rd agreement where he is giving us 1yr time and asking for 4 dated cheques to be provided of the 12th month onwards of which we fail he can bounce those checks and take legal action.Is there anyway we can get more time or any other solution?