refund from recurring deposit scheme .

Hello Sir ..


one of the my relative deposit money under recurring deposit scheme of  
HBN Dairies & Allied Ltd, they operates the scheme through joint venture , the total term of said scheme was 5 years after that company return the above amount with some interest amount .in my case they deposit the amount up to around 3 years and now they ( relatives ) discontinued the said deposit scheme .

but when he goes to their  branch office to get back the deposited amount , the officials of the company say money will be refunded only n only after the completion of term i, e 5 years  .

my question is whether  i am  get my money before the term ..what is my position now ?

secondly the company accept the deposit under recurring deposit scheme through joint venture setup it legally permissible because they carry banking business without permission of rb


thanks in advance ..




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