I had applied for a flat in the year 2011 with M/s BCL Homes Zirakpur and paid an advance deposit of Rs,50,000/-. After one year I came to know that they have no approvals and also had a very bad reputation in the market. As per the agreement I could apply for the refund after one year, so I applied for the refund. These people kept making one or another excuses. After a long follow up they issued a cheque of Rs. 50,000/-. to me. When I presented the cheque in my bank account It got bounced for the reason 'Insufficient Funds' I again followed up with the BCL homes, their director Mr. Tajnder Bansal/Gopal bansal (issuer of the cheque) told me to present the cheque again after 15 days. But I again got dishonoured for the reason of insufficient funds.
I checked the online status in Judiciary page, there are 32 other people who have filed a case under section138 in Panchkula district courts against M/s BCL homes in the past one year. ALL these case are under progress.
I wish to know that Is there any law to stop these type of habitual offenders from befooling others/ They are playing with peoples money, use the money for years together, Issue cheques (principal amount) which get dishonoured/ Do not apear even once in the court/ when they get NBWs from court they make out of the court settlement and easily avoid punishment.'
Do I have any other option except filing a fresh suit u/s 138 against this company? How long will it take to settle the case in district courts. The cheque got second time dishonoured last week.