ashish kumar 06 September 2015

Cheque given as security

I WAS DOING BUSSINESS WITH A COMPANY AS SUPER DISTRIBUTER.I GAVE THEM SECURITY CHEQUE OF TWO BANK . FIRST ONE A/C IS CLOSED 11 MONTH AGO AND SECOND IS RUNNING NOW. SOME DAY AGO I DROP THE BUSSINESS WITH COMPANY.AND COMPANY PERSON'S MENTALITY TOTALY CHANGE.TODAY MY MARKET OUTSTANDING VERY ENOUGH.BUT THE COMPANY PERSON NOT HELPING IN RECOVERING MY OUTSTANDING.THEY ARE TOTALY WANT TO DESTROY ME.NOW WHAT I DO ? TILL DATE THEY DON'T USE THE CHEQUE.IS ANY WAY TO STOP PAYMENT OF CHQUE OR COMEOUT FROM THIS PROBLEM,PLEASE HELP ME.

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6 Replies

Vishnu Sharma Adv 9716555911 (Advocate) 06 September 2015

You should serve a notice upon company to settle the account.

Kumar Doab (FIN) 06 September 2015

You should be having detail and copies of orders booked from market by compnay's staff and detail of payments to be recovered, and also details of payments to be made by you to company.

Obtain professional help of a lawyer/law firm to close your businees with company and also cover the two security cheques given by you.

S Singh 06 September 2015

Please read your contract first, then you will come to know what to do.

vivek malhotra (Advocate) 06 September 2015

Send a legal notice to the said company for not using the cheques in question and return back to you as the same are without any consideration and are only security cheques.

Vivek Malhotra

Advocate, Delhi

saravanan s (legal advisor) 06 September 2015

and since they are cheques meant for security purpose even if it bounces or you make stop payment over the cheque they cant file cheque bounce case on you

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 16 September 2015

It is a bit difficult to understand your query due to the poor English. I make out that you gave the cheques as a security when there was no liability to be discharged by you. Has the situation changed and you have acquired some liability? Had you dated the cheques, written payee's name and the amount?