Legal actions for recovery of amount with interest and results of it

I have given rs. 10lakhs 2yrs. ago , @2% monthly interest but he is not returning amount. According to deal amount calculated 15500000 with interest by march 2017 but from that time is pretending to pay amount every time he commits something but not standing on his words in June he said we cant pay 2% but will pay according to bank interest rate. And 1300000 commit to pay on which we agreed as well then he said that u take property coz have no cash ...at last he said I will pay anything do what u want..alll in all he is not willing to pay..... We have. A have blank stamp paper with his sign and. 4 chques of total amt of 8 lakhs but now came to know he is close that account in bank. So please advice me what legal actions we can take against him and what could be the result for and how to I do that.