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Company refusing to give security amount back what action can I take?


06-Feb-2023 (In Recovery Law)

i have an agreement with arise india ltd . , a electricals and electronics products manufacturer and supplier company of delhi. i give him security deposit of rs 20 lakh and he assured 25% minimum guarantee of security deposit annually through franchise agreement. but after one year it refusing to pay minimum guarantee and security deposit. i also give him a notice through lawyer but there is no response. I am from rajasthan and according to agreement jurisdiction is delhi. what can i do now to avoid case filing in delhi and how can i get my security deposit . So what is better way .

Answers (2)

Answer #1
930 votes
Fist without read agreement its very difficult to rely ur quarry although as per ur statements in quarry u have option that either you file f I r against co for cr breach of trust ,decide and cr conspiracy as well as u can file civil suit against co for recovery of ur security with interest and other relivent remedy is also avail able rest on VI's a vise
Answer #2
934 votes
There may be jurisdiction of Rajasthan also. it depends upon the terms of the contract of so many other things. so do not be afraid of the issue of jurisdiction. You can file a civil suit. If they are not returning Security Deposit, it is criminal offence. you can file FIR also at Rajasthan.

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