Promise of monthly interest not being met
I have invested in a commercial property where the company that owns the project had asked for an investment in the propery worth 50 Lakh rupees.
Till the time the property was being built they were supposed to pay us 45,000 Rs every month.
They had provided us post dated cheques till 31st March 2016 which we were depositing and the chequeues were getting cleared without any issues.
Suddenly around July/August of 2015 the cheques started bouncing. When we complained they deposited the money directly to our account.
When we checked on the progress of the project, it has stalled and no sign of completion.
They had promised that they would transfer the money by the 10th of each month. However they have never deposited the money on time. It normally takes them the 20th of each month to transfer the money.
Suddenly this month, they have stopped depositing money overall.
They are not replying to our emails and not returning our phone calls.
In the event of non payment, what legal options do I have?