Debt recovery

You can file both a summary suit under Order XXXVII of the CPC as well as a criminal case under Section 406 or 420 of the IPC. The most efficient way is the former however as the time taken is far lesser as compared to a criminal case as is the requirement of evidence and other such documents. If you want to go down the longer route for the sake of the retributive punishments in a criminal case, you can do so, but the easiest way to just recover outstanding debt is summary suits.