Lender can file suit to recover money owed via promissory note

You can file a civil suit against your friend for recovering the money he owes you by the way of issuing cheques as security.
Lender can file suit to recover money owed via promissory note
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I had accepted three cheques as security from a distant relative to whom I loaned a few lakhs. Though he used the money to expand his trade, after his business thrived, he was behaving in a very unfriendly manner. Though I asked him to return the money, he is pretending to be bankrupt and citing our agreement (inked on a stamp paper) stating that the amount will be refunded by 2023. Since he is not giving any interest or profit share from his business, don’t I have the right to get my money back for genuine reasons? What can I do in this context?

— Muthuselvam, Porur, Chennai

You can file a civil suit against your friend for recovering the money he owes you by the way of issuing cheques as security.

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