Cheque Bounce

3 years ago

I have given 17 Lakhs to one of my friend by taking personal loan on my name, he promised to pay the EMI along with some additional amount, he paid for 3 months and then from last 28 months I am paying the EMI, he said he will sell his father's property and pay me all the money including the interest charges, but now the flat is sold and his father is denying to give him money.
He have issued blank cheques to me.
He have promised to pay 72k every month and basis which I have calculated compounded interest and put put the amount of 54lac (17lac principal, and monthly compounded interest of 4.5% for 28 months) and the chq is now bounced.
Please suggest what legal action I can take to recover my amount.
I have already paid all the emis on time for which I had to borrow money on higher interest, I had to sell my gold and property too.
Please help, local police station are not supporting, also I don't have any money left to pay court charges.