What is the limitation period for claiming back money from the builder

I booked a flat in Kolkata and paid a deposit. In March 2010, builder cancelled the project (they didnt have ownership of the law, and collected payments from customers without disclosing it) and agreed to return the deposit amount in 10 equal monthly installments. Four installments were paid - the last one in October 2010. In August 2011, they acknowledged delay and agreed to return the rest. Nothing was paid after that. No emails were replied to by the builder. I want to file a criminal case - under 420 IPC and other relevant sections. Am I barred by limitation? Can it be overcome? Is there a criminal case made out on the facts?