Security deposit taken by pvt ltd co.

Querist : Anonymous (Querist) 10 January 2020 This query is : Resolved
A Pvt LTD co. Taken security deposit against stock,not started any business & not responding to phone calls,not paying my money back taken by me as a security deposit against goods,plz help what to do....done fraud co. Premises closed,director not traceable,value of stock nil,not saleable or marketable....

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If a private limited company has taken your security deposit for stock but failed to start business or return your funds, and is now unresponsive with closed premises and untraceable directors, you have several avenues to pursue. It's recommended to first issue a legal demand notice. If that fails, consider filing a First Information Report (FIR) with the local police against the company and its directors, or a complaint with the Economic Offences Wing. You can also initiate a civil suit for money recovery to avoid limitation issues.

Dr J C Vashista (Expert) 10 January 2020
No case can be filed against untraceable directors/ accused Mr./Ms. Anonymous.

Dr J C Vashista (Expert) 10 January 2020
It is advisable to consult a local prudent lawyer with relevant documents for better appreciation of facts / record, professional guidance and proceeding, if there is some truth in the story.

P. Venu (Expert) 10 January 2020
You can file a FIR against the company as well the directors based on the last known address.

SHIRISH PAWAR, 7738990900 (Expert) 10 January 2020
Dear sir,
Approach local police station and file complaint against the company and directors of the company as per registered office address of company.

Regards,

kavksatyanarayana (Expert) 10 January 2020
I agreed with the above-learned experts.

Raj Kumar Makkad (Expert) 13 January 2020
Lodging of FIR is the only remedy in the light of the given facts wherein there was fradulant intention of the directors of that company and you had been trapped by them.

T. Kalaiselvan, Advocate (Expert) 16 January 2020
/First issue a legal demand notice demanding the return of the security deposit held by the company in this regard.
Let the legal notice be returned undelivered.
You may lodge a criminal complaint for cheating, breach of trust and any other offences agaisnt the company and the person who is in-charge of the company.
In the meantime you may also institute a money recovery suit in the civil court because it should not be barred by limitation at a later stage when you miss the opportunity for this.

krishna mohan (Expert) 09 March 2020
You can file complaint with economic offences wing with proof of agreement and receipt towards paying money against company, promoters etc., If more than one client got cheated, forming association to fight will see a better response than individual cases. Also check on advance given versus the expenditure you need to incur to recover to decide the right approach.

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