Section 420

I was implicated in a case under 420 while workig as a HR Manager in a start up company (registered under parternership firm) in Bangalor and was abandoned by owners after a few month operations. It is alleged by some 100 fresh traines that they paid money in cash to get their appointment letters for a promised job. The police falsely implicated and arrestted two of us who worked as Senior employees when we went to Police station to complain against the owners fraud. However they have not filed charge sheets for last 3 years during which we were made to appear in court at so many dates after grant of bail in a few days of arrest in June 2012. Now court has said that they shall inform when charges are filed. The police investigations are still underway as the main accused is absconding and police have not been able to trace him. This is unnecessary harassment for us against whom the police has not found any evidence in support of their implications and promised to delete the name from accused list when final charges are filed. My questions are ; -What are the remedial options open to me as accused to get my name cleared ? -Is there no time limit for the police to file charges in such cases.? -As the police has falsely implicated us what are remedies available to claim the lost prestige and honour and make them accountable ?