How to recover money lent without any written agreement

Dear Sir, Would like to inform you that 3yrs back I had lend Rs 2 lakhs without any legal agreement to a person who was very well known to me. He told me that his wife is hospitalized and promised me to return back within 1 week by selling his land. But he cheated me and extended his time by months after months. Recently he gave me a multi city cheque of Rs 1.25 lakhs but after deposition it was bounced by insufficient balance. So I need your suggestion on this ground if I go for legal procedure if there any hope for getting back my money. Thanking you.