Property Fraud, Builder gave me Cheques which Bounced

I bought the flat in Dreamz Infra in Nov 2013. They promised huge discount backed with other items like Sofa etc.. They asked to make initially full 100% payment to get more discount, but I payed 20 lacks. I keep roaming to Dreamz to hear everytime it will start in next 2 months which didn't happen. It was suppose to come in 20 months and can be extended for 3 months which didn't happen and didn't start at all. At the end they were suppose to pay i will get in next month, everytime, so in 26th month, i realized this is Bogus and cancelled the flat. The Agreement say's if it is cancelled by either party they will have 90 days to clear money, i received PDC of 3 months after 20 days of my cancellation for 19,98,000. I was told by their person just one day before 3 months/presenting cheque to hold and wait for instructions, i told it will be presented to bank and if it didn't go through i will lodge complaint, this happened by repeated call and he pretended as he is not hearing properly, next day i presented both cheque got bounced with returrn code 50-Account closed. Let me know what could be my further action: 1. Do i need to lodge police complaint. 2. Do i need to go with section 138 of NI Act. Pl. provide in details what all possible options i have in recovering the money