Can I sue my ex-business partner who fled with company funds?

I'm in a terrible situation. I co-founded a small startup in Bengaluru with a college friend. We agreed to split profits 50-50, but I recently discovered that he's withdrawn ₹15 lakhs from our business account and disappeared. I haven’t been able to contact him for over three weeks. He handles all the finances, so I feel completely betrayed and helpless. I don't know how to proceed legally to recover the stolen money or ensure he's held accountable. What legal action can I take against him in India? Any immediate steps I should follow?