Directors dispute

Hello, I asked a friend if he would be interested in doing a business for one of the idea I had and started a private limited with both of us as equal directors. I started the work from getting the documentation for company registration, name, logo, forming team, planning strategy and etc. When it came to designation only he wanted to be the CEO as he promised to invest. In mean time I got the seed funding from my source and got few other investors for future funding as well. After a point of time we had some difference in the operations strategy and I was not agreeing to his idea. Immediately he came stating that he found the company and asked me to give up everything. He sent mail to the bank without my knowledge and froze the company account which has got only my contribution. He also went ahead and started to defame my name in the market with false accusations. What is the best solution, we own 50% share each and there are no board of directors. I know this guy is trying to take advantage of every situation with his money to make things against me. Kindly advice.