Undated Security Cheque

We r a Housing Society and one member who has defaiulted on monthly maintenance payments for last 18months, has given a security check against assurance of payment by NEFT by a date. We have the letter to this effaect.

If he again defaults then can we put a date and bank the cheque. if this check bounces can we initiate action under section 138?

R we legally right in taking such action

Thanks

Kashinath Karekar