1. WP can be filed in HC u/ 226, 227, without paying 50%.
2. You can also file RA u/s 154 MCS Act, and adjudicate it property with documentary evidences. Majority of the 101 recovery orders are set aside on technical grounds.
3. IF you have documentary evidence & witnesses, on the financial fraud /misappropriations, THEN firstly file a Police FIR, requesting investigation and charge-sheet, for offences like cheating, intimidation, fraud, breach of trust etc.... against the person, supported with all relevant supporting documents.
4. IF the Police does not take action, THEN you can file private criminal case u/s 156(3) Cr.P.C., in the local Magistrates court, seeking directions to the Police to investigate and file charge sheet.
5. In Criminal cases, approval /sanction /permission is NOT required from anybody including any authority.
Keep Smiling .... Hemant Agarwal