I have lent a sum of Rs.7,50,000/- to a friend of mine and the amount was paid by way of cheques about fifteen years ago. He has failed to repay and recently issued a cheque for the said amount along with interest accrued thereon. I wish to know if I can present the cheque and, if it gets dishonoured, can I go against him legally either to get back my money or to punish him as per the legal provisions. I request your advice in view of the fact that this case is almost 15 years old but the amount was paid by me through a cheque and it is totally legal money. If I approach a court what are my winning chances and the expenses involved and whether it is worth making such an attempt.
Request your guidance.