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Need experts kind guidance to recover my money

Querist : Anonymous (Querist) 22 November 2010 This query is : Resolved 
Sir,
i am a NRI. i gave deposit to my close friend (i know him from the childhood)in india at the time of my vacation Rs.2.25 lacs by hand (not thru bank)@ rate of 36% of interest per annum. He is doing the chit business and finance (cheque discounts)also. i joined the chit also for Rs.1 Lac in the year 2008 (mid of may).he gave me cheque and deposit receipt(chit & Finance are unregisered). he paid the interst amount (deducted his chit amount) monthly to my family without fail until my next vacation in the year 2009.then in the year 2009 vacation, he asked me for more fund for improving his business. from the past dealing, i invested again 5.5 lacs (which some bank deposit prematured)at the rate of 24% interest per annum. he promised me that he will return all this fund immediately whenever i will ask. then he took my chit money also as a deposit with him. but all other transaction thru ECS only.he gave me the chit book, deposit receipt and cheques(without date). suddenly he called me in sept 2009 and he said that due to some financial collapse i am going to stop your interest and surely i will pay later. he promised me that he will return my principal from the dec 2009 by 1 lac per month then he will pay interest after paying my principal.e is very close friend then i said "ok" but he paid only rs.25000/- per month from jan 2010 to april 2010. i shocked and i asked him during my vacation in may 2010 and again he said that he will sell his house worth 35 lacs and pay my money on july 2010 without fail. but until now he did not pay rather principal nor interest. i called him and he is asking again time and time but he is not giving even single penny. now i come to conclusion that he is not my friend and he is a cheater.he is taking advantage that i am not in station. so please experts advise me to come out from this struggle. how can i get my money back and i will teach him a lesson that he shall not do this cheat to any of others?
so please guide me how to handle this issue and i have his property Duplicate deed copy and EC upto November 2010(collected from my other friend who is working in registration office).EC shows he gave power of attorney to his wife in the month of august 2010.
waitin to hear from you soon
thank you for all in advance and thank this website too.
adv. rajeev ( rajoo ) (Expert) 23 November 2010
Issue notice to return the deposit by giving some day i mean 10/15 days with an interest. If he failed you can file the complaint before the consumer forum or suit for recovery of money.
s.subramanian (Expert) 23 November 2010
yes
Querist : Anonymous (Querist) 23 November 2010
Dear Lawyer sanjeev sir & subramanian sir,

Thank you very much for your kind reply.
Ajay Bansal (Expert) 24 November 2010
DO.
Devajyoti Barman (Expert) 25 November 2010
YES


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