Blanck cheque bounced

In 2011 I was working as a personal financial advisor of someone.My friend had invested 12lackh rupees in sharemarket but he had given the cash to my boss with security of my idbi bank ltd. cheques amount 420000.00 and another cheque 780000.00,but my boss betrade me and fly away from somewhere.So I told the matter to my friend and assured him I wil give the money,it can take me 1-2 year to repay.Now I have already paid 400000.00 rupees to him but hedidnot return the first cheque and bounced on 29th august 2013 ,he demanding his money within 3months,but I am not able to pay him,so he sent a legal notice on 10th oct 2013, but there is wrong bank name of my cheque and all the story is totally wrong in the notice, he had another cheque of 780000.00. he is threatening me so I gave him a lcd tv of my home.