A deposit scheme in Madurai failed to return my money, is the company liable?

Detailed Legal Analysis

Unauthorized deposit schemes are regulated under Tamil Nadu Rent Control Act 1960 and the Banning of Unregulated Deposit Schemes Act. The Madras High Court has held that entities accepting deposits without proper registration are liable for full restitution.

In Madurai, you can file a consumer complaint and a complaint with the state deposit regulator. The Madras High Court has upheld that directors of defaulting companies can be personally proceeded against for fraudulent deposits.

Under Tamil Nadu Rent Control Act 1960, the consumer commission can order refund with interest and penalty for deficiency. You should preserve the deposit receipt, agreement, and communication records for your complaint in Madurai.