I have invested around 40Lakhs ruppes in an Infrastructure company from Haryana when they had a branch in Odisha while they persuaded me for higher returns. Since last 8 months with various maturity dates they are not paying me my maturity amount after multiple requests via email, Regd Posts, legal notices; they saying they have shortage of funds as the land values have gone down. But they have collected the original receipts from me deceitfully saying they will pay me soon.
The local manager is hiding and not showing up when I visit his home at Odisha. The branch also closed now in Odisha. Like me there are around 20more people facing same difficulties.
Some people are are suggesting to file Order 37 recovery suit at Hon. High Courts. At the same time some people are saying as I dont have all the original bonds, so Order 37 can not be filed. I have some originals which can be summed upto 20Lakhs, including some expired cheques, and some bonds are of future dates.
Some suggested not to file 420case as the punishment is very minimal and the culprits are out on the road again after 6 months or 1 year.
Can you please advise Why should I file a Civil suit which might takes take years to recover. Why cant I file a windup petition? or Do I have any other legal remedy for this to recover my money and bring the culprits to justice?
Thanks in advance,