I am from Nashik.
I am running business in name of Dinesh agencies. I came in to agreements with a company for selgling there led bulbs.
blank cheques given them on agreement.
I had also given them bank guarantee of rs. 3 lakhs to them..
some times later dispute started with company.
when I stopped business total outstanding due with company was almost 14 lakhs on 15.8.2017
..on 1.9 .2017they used my blank cheque and put amount of rs. 8 Lak and bounced which was stopped Payment done by me and informed them by legal notice on 22.8 17
..on 22.8.17 I had send them stock return of rs.4 lakhs
and on 26.8 they encashed my bank guarantee rs.3 lakhs
now seen is that I received a legall notice that .. after so call reminders I had issued that cheque .. which was already blank signed when given..
2. actual due was14 Lakh but company send me notice of 8 lakhs..they used words in notice that .... total outstanding due towards company was 8 laks and after so called reminders I had issued them cheque towards legal debts cheque dates 21.8.2017 ...
and after 21.8 2017 they received my bank guarantee and stock also ... that is.. total 7 Lakhs...
now please guide me .. whether they can use future transaction in advance .and use blank cheque ..