Depositor can move the National Company Law Tribunal (NCLT) seeking an order under Section 73 (4) of Companies Act, 2013 directing the defaulting company to pay the dues.
Aggrieved depositors can form an association and move a class-action suit (under the Company Law) against the defaulting company
An individual depositor can as a financial creditor of Rs. 1 lakh and above initiate corporate insolvency resolution process.
The depositor may get back dues when unsecured creditors turn comes under a waterfall process (establishing a hierarchy for payments) in the Insolvency and Bankruptcy code.
Read the full article at: http://www.thehindu.com/todays-paper/tp-miscellaneous/tp-others/options-for-the-distressed-depositor/article9143683.ece
