Legal options on our case

My father has allegedly borrowed money from a person well known on 2018-19 period by assuring high interests. Knowing he cant return the money, the person started threatening my father and my father went to police. Later the person filed a CSR for rupees 2.8 lakhs on November 2020 which my father had to return in six months from CSR. When we tried to return the money on due date, the person started asking around 7 lakhs and refused to receive money in the police station. Later, in the evening, he called and threatened my father to give one lakh rupees for which we have only recording to prove that the person received one lakh. And till now, he calls my father and threatens to file police complaint and demanding 6 lakhs, since he allegedly says he borrowed the money and gave to us and he needs to pay the interest. we have given him around 1.5 lakhs. and we can be able to give him only the remaining amount mentioned in CSR. My mother said that to the person and he again threatened us with the call recording of my father offering higher returns and demands 5.5 lakhs. We also have audio recording of him trespassing into our house and threatening my fathers brother by mentioning central minister's name, ex-mla's name, he also said he will write 10, 20 lakhs in blank promissory note which my father allegedly signed. We are aware that my father might have done some wrong but we cant do anything now but to accept it and he also understands that he has done a mistake. Now my question is, 1) what should be our legal and safe move? 2) can a person acknowledging an offense before few years, file a complaint now? is it not criminal intimidation? 3) The police officer allegedly asked him if has given for interest while he filed the CSR on 2020, he then said 'No' and did not mention any interest or how my father borrowed money from him for allegedly higher returns. Can the person now file a complaint ? and what are the legal moves and pros and cons we have now. And thank you so much. All me and my mother can do as a family is to save my father, so your response means a lot to us. Thank you!