CPC Conundrum

So I was reading about Section 138 of the Negotiable Instruments Act, but my friend told me that in some cases, we can directly file a complaint under IPC Section 420 for cheating. But then another friend said it's a CPC issue and we should go for a civil remedy. What's the correct approach? Suppose I send a cheque to a friend for Rs. 50,000 for a car, but the cheque bounces. He tells me he already sold the car and doesn't have the amount. Can I directly file a case against him under IPC Section 420 for cheating and get Rs. 50,000? Or do I need to go for a civil remedy like suit for money due under Section 8 of the CPC? Help! My head is spinning with CPC and IPC!