asking for cheque bounce case

dhirendra (Querist) 13 August 2016 This query is : Resolved
Sir i have a firm of seeds and pesticides and distributor of a firm we have given two blank non CTS cheques as security.afterCTS cheque system they taken two more cheques CTS as security .i have taken in writen that these two cheques are only valid if u return my previous cheques other wise ifif these cheques bounces their will be no responsibilty of us.but they drawn that cheque and bounced without retutning my previous cheques. Issued a legal notice to us in feb 2016 till then we started making payment but they have filed a case agaist us in may 2016. We have payed 90%of the amount only 10%is remaning what should we do?

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Guest (Expert) 13 August 2016
Repeated hypothetical academic query.

adv.bharat @ PUNE (Expert) 13 August 2016
Pay the remaining amount.

Rajendra K Goyal (Expert) 14 August 2016
The cheque issued by you is bounced, defend the case on merits.

There is no reason why the new cheque was issued without getting previous. Even reported lost you should have obtained the letter to the effect and get stop payment marked with the Bank.

P. Venu (Expert) 14 August 2016
You can meet the issues on facts and merits and demand compensation for malicious prosecution.

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