Guarantee

I own a shop in the metro plaza Bhopal which I have given on rent to Mr. Punit Kumar proprietor of Manglam Cosmetics for Rs. 9500/- per month. About 3 years ago Mr. Punit Kumar requested me to be a guarantee in cash credit loan he wanted to take from IDBI bank and to mortgage this shop in favor of the bank for which he will give me Rs. 35000/- pm as compensation for the risk I will be taking. He assured me that within the next 2 years he will make some arrangements to free me from the liability. I made a great mistake in agreeing to his request. He has sanctioned a cash credit limit of Rs. 25 lakh by the IDBI Bank. The limit has been fully utilized by him. He paid me Rs. 35000/- pm regularly for about a year and then he stopped. For the last 12 months, he has not paid me the rent also. His turnover has also come down and his cc loan accounts may become NPA any time. During the period of these 3 years, he has taken loans from different other persons too without telling anything to me though I have told him several times not to do so. I believe that he has acted against the belief, faith, and rights of his guarantor. I believe that he has made diversion of the fund and his intention was malafide in involving me. I am ashamed of myself that I have put myself in this trouble so foolishly. The present position of the cc loan account:- He has paid monthly interest upto March 2020 to the bank. Due to lockdown and as per RBI guidelines the bank may grant him 3 months moratorium upto June 2020. He says that he will try his best. But I am doubtful. I keep on pursuing him to service the bank interest every month. Sir, I want to know what action can be taken against him. Can a case under IPC 420 be filed against him and whether such appeal will be accepted by the court? Whether on our appeal the court can order him not to go out of Bhopal till the final decision of the court because his permanent address is in Ludhiana, Punjab and I am afraid that he will run away one day. Should I get the cheques given by him bounced and the file a cheque bounce case against him? Sir, I shall be very happy to seek your noble suggestions in this regard. Please also tell me what documents will be required to sue him in the court.