Advance Payment

Limitation for filing a suit for recovery is three years (Article 13 of the Schedule appended to the Limitation Act, 1963). So you can file a suit for recovery of the amount advanced together with interest and the same will be within limitation period.

However, you must serve a notice before institution of the suit which though not a statutory requirement but will be beneficial as the other party may approach you for amicable settlement.

Presumably,you have paid the amount directly to their loan account with the bank which could have been obtained by the company for their own needs,and you are left with no evidence that you have paid the amount for any consideration or contract or agreement whatsoever.  with the company.Therefore it is a must that you have to put them on notice with the evidence you are having to proceed leaglly within the limitation period as pointed out by Praveen

Bank statement and cheque not is not sufficient for it, do u have any kind of purchase order or receipt fom them as a supporting document, if yes then go for it,