Undated and blank cheques

Querist : Anonymous (Querist) 13 September 2023 This query is : Resolved
Dear team,

Can we take undated or blank cheques for personal loans which is granted by nbfc s to their employess

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Quick Summary

This discussion clarifies whether Non-Banking Financial Companies (NBFCs) can accept blank or undated cheques from employees for personal loans. The consensus is that while security cheques can be taken without dates, they must be duly signed by the drawer. The legality and intended use of such cheques in case of default are also raised as important considerations.

Sudhir Kumar, Advocate (Expert) 13 September 2023
vague query

kavksatyanarayana (Expert) 13 September 2023
Your query is not clear.................

T. Kalaiselvan, Advocate (Expert) 14 September 2023
You can obtain security cheques without dates but it should be duly signed by the drawer.

Advocate Bhartesh goyal (Expert) 14 September 2023
Yes, payee can obtain blank and undated cheque for security but it should be duly signed by drawer.

P. Venu (Expert) 30 September 2023
Why do you want to take such cheques? How do you propose to make use of the same in case of default?

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