• Money borrowing and delayed repayment

Hello,

One of my friends started a business almost three years ago, which he had to shut down only after a few months, on account of some unforeseen events! The result was pretty much loss of funds invested.

The matter is he borrowed a sum of Rs. 64,000 from a person, who he thought to be his mentor if business would go on! The person had some self-interest of both monetary, as well as business nature; that's why he lent that amount. 

My friend was just an amateur in all those business and/or lending/borrowing matters; so he didn't think about this borrowing that much deeply, and took it as a help from an elder who portrayed himself as a good person. While the money was being exchanged, there were neither any witnesses nor any legal formality was maintained whatsoever! The 'experienced' lender didn't ask for any written stuff as a security, and he only took a few checks, representing the total amount given, from my friend. Also, there was no 'repayment date' either!

Things were fine so far, but soon after the business went down, the lender started to act strange! It was like he forced my friend to repay the entire amount in one day, despite knowing everything. But my friend was almost bankrupt (he tried to do everything on his own, nicely, but luck didn't favor) then! Anyway, so due to his mentally torturing activities, things became further difficult for my friend. And later that lender visited his house, with some guys, threatened him and his family, asked for almost twice money in return! This resulted in the heart-attack of my friend's mom and one side of her body got paralyzed too! Then, the guy was silent for a while, but now he has again started doing the same things!

My friend has never denied about borrowing money from him. He always wanted to, and even now wants to repay the guy. But the problem is: his family depends on him, both parents have been terribly sick with heart issues, and his current income is not enough to cover all expenses, and then repay. Here, I would also like to mention that the guy took some stuffs from my friend, sold them, and got around Rs. 26550.

Now I have the following things to know about this -

i) My friend wants to repay, but he is not in a position right now. He needs time, but the guy is not really willing to wait or so. What is your suggestion for my friend in this scenario?

ii) Although that guy took checks, but there was no purpose or anything was mentioned anywhere! Plus, those checks are invalid now (issued almost three years ago, and blocked later). Can these still pose any legal or so problem for my friend? If yes, then in what way?

iii) Because of the guy's actions, my friend's mom fell sick, as I mentioned already. It seems that the guy likes threatening and so on. So what's your suggestion here?

iv) This is a three-year old matter, and my friend gonna repay him as soon as he gets enough money for the same! But right now it's not really possible. So is that guy can take any kind of legal action against my friend or like that? Note that my friend didn't sign any document or letter or anything like that, which technically prove this borrowing/lending activity.

Thanks in advance for your kind suggestions!

Regards -