13 8 ni act

You can file the chequie bounce case against the company and implead his wife as A2 and conduct the trial proceedings of the cheque bounce case.

What were you doing all these three years without taking any steps to recover your money?

He continuously gave interest money to me so I never doubted 

Contact, consult and engage a local prudent lawyer for better appreciation of facts/ documents such as subect cheque, bank memo qua dishonour of cheque, agreement, statement of account etc., professional advise and necessary proceeding.
 

From what you state it appears that you had given loan to your friend and your cheque was payable to your friend by his name. To return the amount the cheque was drawn by the company owned by your friend's wife. The company owned by your friend''s wife had no liability to return the loan. Hence Section NI-138 will not be applicable.

Yes, there has been no legally enforceable debt which your friend's wife owed you. The precise reply as to this aspect deprives you of any cause of action to move the Court under the provisions of Section 138 of the NI Act.

You may initiate a civil action if the matter is within the period of limitation.

The business agreement signed between me and his wife clearly mentioned this money is for there company growth not for his husband personal needs 

With business agreement you may have a civil case. You cannot have a crininal case under NI-138.