How to recover money from friend

you said

"I just dont want bank people to come to me, that is why I was paying EMI"

no choice.

you said

"Is there anyway that I get some agreement with this person and provide to the bank, so that the bank can recover from him."

carry one if you can prevail upon him to sign some agreement and see if bank accepts. 

You just do not understand that if the bank had any faith in him they would have given him loan and how can you expect bank to accept his agreement now.

Yes I accept all the blame !!

So the only way forward is to go to a lawyer and seek help ?

I came here for the same reason, bcoz the person said he himself will come to police if he is not able to come up with at least part of the money soon...

So make it legally binding before that what proof do I need ?

Pronote ? Agreement ? Cheque ? Video recording ? Signature from his wife ? Signature of his parents ?

.. what proof will make it a strong case and undeniable, and get my money...

the person has share in his parents home and 2 other family property..

not understood

"bcoz the person said he himself will come to police if he is not able to come up with at least part of the money soon..."

Yes, few months ago...I was trying to get in touch with him. He did not respond. I called PartyB and said I will go to police if I not hear from PartyA soon.

In next few days,He(PartyA) came to my home with his wife and his 1 year old son. Said "he is trying all possible ways to repay, now my family also is here as proof". I said I have had enough and cant wait.

Then he said, if he is not repaying soon, he himself will call me(or come) so that I can take him to police station and he will not defend. (I think he meant surrender). Same time, I asked him "now that he is here, he can give me some proof. he came along with me and got Rs.100/- stamp paper and signed it. ( I dont have much knowledge on these things, or I was not conscious enough when taking loan and giving it to him). What is happened is happened, now I'm suffering the consequence. I want that money now and I have no idea how to get it back soon.

you said

" he himself will call me(or come) so that I can take him to police station and he will not defend."

do you really believe that this will really happen?

Hew has simply succeeded in emotinal blackmail showing you wife and child so taht you can be fooled (once again) and you take no action against him [but bank will not stop they will take action]. After some time your action will be time barred.

How old the said stamp paper has been purchased?

in whose name it is purchased?

what exatly is written on the pap[ers.

all these factors will have to been seen only by an advocate who you meet with papers.