chq return

d/s i was given 3 cheques for Rs. 250000/- each by a party on sept 14 with the date of the cheque in the month of Dec14, with a aggrement duly signed before the notary mentioning the payment to be made to me by clearing the above cheques, but i had received a notice from the party's laywer before i deposited the cheque in my bank mentioning that the cheques were taken from his client forcibly by pressureising him with the help of the dcb (crime branch) and also mentioned that they have intimated the bank for the stop payment for the above cheque. we had deposited the cheq and the were returened by his bank with the memo of drawer stopped the payment, we had also give the suitable notice to the party, now i want to know if i can go in for a police complaint along with the case u.s 138 as he has not kept the promise for clearing the cheq as per the aggrement on the stamp paper, pl advise me for a stronger case as this party has cheated for a total amount of approximately 70/80 lacs of various parties. i want to see this person behind the bars filing an fir us 420 etc in police as well as my monitory loss should not be there for which can i lodge the complaint us. 138 simaltanously. pl revert at the earliest. regards