1. During emergencies Front brake and rear brake together...give bias to the front brake unless it is wet, slippery or you are in the middle of a corner.
2. The bike swinging from side to side is natural because although you have stopped the front end with your weight being on it to keep it in line, the rear end is like a pendulum connected at the steering head. It is moving faster than the front end so it tries to "overtake" the front and hence the bike oscillates around the front end. If the oscillations are of reducing amplitude, you save the bike. If the amplitude is increasing - you are going to crash.
PLEASE DO NOT throw your body around trying to control the oscillations because it defies the laws of physics and will not work. Worst case you will take a safely oscillating bike into out of control oscillations by contributing to the swing by shifting your weight around.
The best move in this situation is to "feel" the bike's oscillation and you will almost instinctively shift weight forward so there is less mass on the rear wheel to amplify the oscillations (a heavier pendulum swings further...make it light!).
Slightly releasing the front brake and allowing it to move forward will also reduce the effect of the oscillations as the delta in speeds between front and rear is less severe and now that the bike has found another avenue for it's pent up energy, it will divide the force that was originally fully contributing to the oscillations between oscillations and linear forward force. This reduces the amplitude of the oscillations as well.
I don't know if you'll find this ghyaan written anywhere...this is just from experience. Anyone who has ridden a Karizma with it's awful front brakes will be aware of the rear sliding around during hard braking. I am comfortable with this phenomenon on a lighter bike but on a heavy bike like the MT-01 it freaks me out because there is more mass to control here!




... These guys moved further left and my bike brushed with their bike sideways with me on left and them on right ..... My right foot peg saved us from crashing into each other as it took the entire impact and broke off on the road (which I realized after analyzing the whole incident) .... Upon the impact I also applied brakes to avoid high speed crashing ... Now both the impact and the braking created a deadly swivel at around 60kmph
.... My pillion (lighter than joel & of same height) was already half down on the right side with one leg on exhaust and other hanging over the seat ..... The other bike lost control almost immediately and touched ground at a very high speed ..... since they had no gears not even helmet, the wounds were severe .... My job here was to bring the lady to stop without touching the ground ... I asked my pillion to hold on and I transferred my weight on left as he was on right ... With the right foot peg gone, my right foot was on rear brake ... I pressed it gradually along with front and let the bike adjust as the road ahead was empty (thank god) ... finally the combined effort payed off and the bike came to a safe stop at around 10m from the sight of impact ... After the stop my pillion safely got down and I was thanking god that we didnt touch the ground
... Had it been a truck or bus they would have not been alive to tell the tale ... I threatened them to come to police station and get a report filed for negligent riding .... they finally accepted their mistake .... Their bike was in bad shape too .... By this time some villagers gathered at the scene and helped those guys out .... My co-riders were here and we decided to move forward after seeing the villagers attending the injured guys ... When I started my bike and took it for inspection check, I quickly realised that my right foot peg is missing 
... And regarding skills nothing great here, some I learned by experience and some by reading xBhp threads !

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