I took a loan of Rs 40000/- from a person. In return I gave a blank cheque(only signed) to him as gurantee. After 2 months I returned the money and asked for the cheque. He said he has misplaced it. As the person was friend of my relative I believed him and didn't said anything.
Now after 1.5 years he has bounced that cheque with amount of Rs. 500000/-. And now issued me a notice that pay the money or else he'll register a case.
What should I do? As I don't owe him any money.
PLEASE HELP.