Not able to pay more money due to loss in the chit fund

Hello, My father had started a chit fund(not registered) in 2011. The fund money of all the holders were cleared except for one person, As the chit was in a loss, I and my father requested for some time to give them back the entire amount. They went and complained to the police station, we went there and explained our situation and police tried to negotiate a deal and we agreed to pay back the entire amount within a stipulated time but they claimed we owed them twice the amount and needed it asap, hence the negotiation failed and the police gave us an NCR number and told both the parties that since this is officially a financial case this has to be handled by court. At present, every now and then a cop from the station calls telling us to come to the station saying they do not want to go to court and what to negotiate. They paid us 24L as the chit money and we have given them back close to 30L. We are already in losses and cannot pay them back anymore. Not sure what steps to take?