Pl.answer these questions - (Is't the licence under the Shops & Commercial Estt. Act. of the Union Territory or Punjab or Haryana?)
1) Did you receive the authentic receipt against this caution deposit and preserved it, in your possession? How was the deposit money.
2) How about the licence, did you receive it?
3) Did you personally deposit this money- by cash or DD ?
If it's for Shops & Commercial Estt- Many states don't insist for any deposit money but only fees @ prescribed rates in the act. If this might apply to this, most likely, if the licence is applied thru' some agents, the agent would have collected money towards fees+his charges + other expenses(!) in the guise of deposit. Pl.check this and ensure that it's only deposit to confirm you are not duped by some thugs.
If really money was deposited in the office and authentic money receipt is obtained and in your possession, you should follow the following steps-
a) if this is a Co. you should comply with all the procedures as stipulated under the Companies act and surrender the Co.Regn. to the Registrar of Cos and obtain a confirmation letter;
2) Close all your bank a/cs opened in the name of the Co. and obtain the Closure certificate from the bank concerned;
3) Similarly regn. under the GST Act., surrender & obtain a letter of cancellation of regn.
4) File the licence cancellation in the prescribed form (formats can be suggested once you reveal the state in which you have regd. this firm.) to the Labour dept. and ask for refund by a bank a/c credit.
Otherwise consult a practising Chartered Accountant who'll what is reqd in this regard.