My friend borrowed money from me by giving the cheque of same amount. But when I submitted the cheque it got bounced. This incident has happened about 8-9 years before. Till now he was making excuses that he will return the money as soon as he can. Now he is saying do whatever you want to do and he won't return money. Kindly advise the legal actions which can be taken on him. And how soon money can be recovered from him.
You slept on your privileges law had given and allowed the debt time-barred. When the cheque bounced, you should have initiated action as per the time frame is given in Section 138. Now after such a long time, beyond the time prescribed for taking action in the case of a debt, as per Limitation act, there is nothing that can be done through Courts.