when was loan given ?

2) was money paid by cheque? 

3) kindly clarify 

file police complaint of cheating under section 420 of IPC against the relative 

If you have evidence for having lent money to your relative, you can issue a legal demand notice demanding repayment of the same with interest from the date of loan till this date.

If he is not complying with the demands made, you can file a suit for recovery of money.

Your thinking will not stop the law from taking any action against him if you file the suit for money recovery.

you first of all issue  legal demand notice and wait for him to respond after which you can discuss with your lawyer and proceed further for recovering the amount due to you by due process of law.

Dear client,

Sorry to hear about your situation. First, think about reaching a peaceful conclusion through honest dialogue. If that fails, put the debt in writing with a legal agreement that outlines the terms and conditions. The Negotiable Instruments Act, 1881, may be used to collect dishonored checks if the relative defaults. As an alternative, a lawsuit to recoup the obligation may be filed under the Indian Contract Act of 1872. For a speedier settlement, consider looking into mediation or arbitration. Speak with an attorney to determine the best course of action given the facts of your case and the applicable laws. This will ensure that the laws are followed while you pursue a just and legitimate settlement.

Hope this helps you.

You need to file civil suit and cheating complaint to recover the same 

If declared bankrupt by court than no recovery.

This appears to be a case of heating and you an approach the Police with a plaint against your relaties I

n the alternative you may send the a legal notice through a lawyer and if they do not repay despite the legal notice initiate legal proceedings for recovery against them. 

Dear querist, 

Initiate civil recovery proceedings against the money lent alongwith the interest. For the criminal action a FIR under section 420 i.pc and 406 I.pc can be lodged against the accused. 

You have to decide the recourse as per your goal. If your goal is recovery of money only, you can go for civil action. If your goal is punitive and recovery a criminal action can be taken. 

please note that the law does not bar you to take appropriate actions parallelly.

In case you need my consultation for the matter, i can be contacted on 

I am sharing a link of my profile as:

https://qrco.de/syslaw

https://g.page/advocate-yuganshu-sharma-sys-la?share

- Since, you have paid the said amount through the bank, the legally you have right to recover the loan amount from

him after filing a recover suit before the court. 

- However, you can send a legal demand notice to him before filing this case before the court. 

- You have your right to get refund the loan amount from him , even the said party is bankrupt  

File suit for recovery.