13 September 2021
I have gone through your query. Many learned persons have advised you already however I would like to write a few words of my own. As rightly advised by learned advocate Sh. Bhartesh Goyal g, your debt even if provable, is time barred under Limitation Act 1963. Thus you cannot file a Suit for recovery. But there is another way. Although it will not be easy and you will need a skilled Advocate to pull it off. File a complaint under section 405, 420 Indian Penal Code to the Police. The complaint will be filed in the area where you had handed over the cash. It will most probably be either your house or his. If the police registers FIR, its good, the action begins. But I am 99.99% sure that Police will not file FIR. But in any case wait for 15-20 days after filing complaint to police. Thereafter, convert the Complaint into Application under Section 156(3) Cr PC and file it before the Judicial Magistrate First Class of your area or Metropolitan Magistrate, if you live in Urban area. If the Magistrate summons the accused (your friend), the action begins. I cannot explain everything here. You may send me a personal message for further instruction. I can also help you with Drafting Complaint to police and converting Complaint to Application under section 156(3). Regards
Shubham Bhardwaj (Advocate)
District & Session Court, Chandigarh
Punjab & Haryana High Court, at Chandigarh.
Disclaimer:- Opinion is only for guidance.