file recovery suit.

See if it is registered company issue them a notice of demand under IBC, if in 10 days from receipt of notice they fail to pay the amount file a Insolvency petition against the company in the NCLT. 

Sue the other party for breach of contract

file summary suit under order XXXVII of code of civil procedure to recover your money with interest 

Dear Sir,

Steps to take before initiating legal proceedings if the buyer/customer delays the payment

• Before getting into the business with the customer. You should draft a contract which should sound legal. Contract is the best way to keep the payments safe. Draft a contract which covers all the situation that could arise with the customer. In the contract, seller can put the clause for non payment and other possibilities for the payment. You can also hire a lawyer or a CA for drafting a contract, as this can be a professional help.
• While drafting a contract, include an interest clause in the agreement. Including the interest clause will help the seller in getting the payment early as possible as the customer would be avoiding the burden of the interest. In the agreement, state the maximum rate of interest that can be charged and also include from what date the interest will be started.
• Do not ever provide credit to the first customer. You should always take care of not providing credit to the first customers as there is no relationship between the first customer and the seller. You can ask for advance through online payment or credit card. If you have offered to make the credit then drafting a contract is very important as the contract will be a proof for the credit. Giving credit is only possible if you have an evidence or proof, so that when time comes you can prove it in court.
• If the customer delays the payment then you should ask the customer politely and should not get angry. Ask for the payment politely as this will increase the chances of getting money without taking legal action.
• Follow up: You should always follow up the customer from time to time. Following up is a practice to remind the customer that he has to pay. Asking for your money is not a bad thing and one should ask for money timely as this will also increase the chances of getting the money back.

Hi 

If the construction company is a private limited company , you can file as an operational creditor under section 7 of  Insolvency and Bankruptcy code and claim refund of your money. Presently under IBC at NCLT cases are taking up to 6 months to resolve(i.e to pay up)

If the construction company is a proprietary or partnership company, then you can file a summary suit under Order 37 of CPC and claim your money. 

Summary suit under CPC is a fast track litigation process with the defendant having to pay 50% of money outstanding should he choose to contest the case to make delayed payment.  Summary suit in civil courts also take 6 months to settle from the date of receipt of notice by other side. 

You can file a recovery suit against company along with interest. 

You need to file civil suit for recovery.

1. Serve a lawyer's notice to the company to release the payments forthwith.

2. If the sum is still not released then you have to file a civil suit for recovery of money in the competent civil court to recover the principal sum with interest, compensation and cost of litigation.

3. After a year your debt will become time barred. So hurry up.

You first confirm the reason that why they are not paying the same despite complying with the demands made, if there is no proper reason for non payment you may issue a legal demand notice against the builder and may drag him to the civil court for recovery.