What can the seller do if the buyer cannot continue with the purchase of property?

We signed DLD Form A, and agreed to buy a villa worth AED 11.7M, and gave a security cheque of AED 1M. But now due to some funds issues, we are not able to buy that villa.

We are requesting the seller to terminate the contract and also we will bring any other buyer for you. Now, the seller doesn't want to cancel the contract and threatens that he will deposit the security cheque.

Can anyone guide how to come out of this issue?

Will you assist us with this, please?