Money revovery

You may initiate a case of cheating and fraud upon the borrower, besides this, obtain a decree of the amount paid by you, let it remain valid till you find some of his movable and/or immovable assets for 12 years for execution.

File criminal case of cheating in magistrate court against borrower. 

A case of cheating or fraud cannot be filed against him in this circumstances because you have accepted the liability and repaid the entire loan amount.

Hence you have only one option i.e., to file a money recovery suit.

The criminal charge of cheating could be sustained only if you have the evidence to prove deception from the very inception of the transaction. If a mere breach of promise, no criminal action lies; but only a civil action is possible.