i am an employee in a private college. the college has collected two cheques worth around 50000rs on my appointment as a security. those cheques are "not dated" (they said to give without putting date).
now my position is that im going to leave the college bcoz of my personal problems. so they wont give me the cheques but they deposit into my account which will get dishounoured.
when i tried to cancel the cheques banks are asking for "DATE OF ISSUE". so what is the remedy available for me. pls suggest me
13 April 2012
write aletter to college satting cheques given as secuirty and were not dated not to deposit the cheques and not to make any alterations in said cheque. request them to return the cheques
Have they taken a personal bond or have you given any agreement that you serve the institution for a certain period of time.If the cheques are mentioned in either of them,be extra careful in issueing legal notice.
14 April 2012
You must do as under  Issue Notice to Bank, giving Cheque No., for STOP PAYMENT.  iSSUE NOTICE TO COLLEGE, NOT TO DEPOSIT CHEQUE , ISSUE BY YOU W/O DATE, DO NOT WRITE DATE, AND RETURN TO YOU.  close your bank a/c immediately on next date of instruction to stop payment.
14 April 2012
Issue a letter to the College asking them to return the cheques,giving cheque nos.& mentioning in the letter that they had collected the said undated cheques as security cheques & also that you have no dischargeable liabilities on them. Give a copy of the letter to your Bank stating them to stop payment in case the cheques are presented to them putting any date.