Security chq

CreateGoodwill (Querist) 04 August 2014 This query is : Resolved
Dear Sir,

we have taken a secuirty chq from a dealer in 2011, while registering him it was decided that dealer will issue chq on receipt delivery, this was smooth till 2013,

In 2014 due to some ego issue he had stopped giving chq against material we have supplied he is not returning the material nor issuing the chq . can we deposit the security chq against the pending dues. pl suggest have contacted my LA but he is not aware of the same. pl help and guide.

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ajay sethi (Expert) 04 August 2014
deposit the security cheque to bring the dealer to negotiating table

Advocate Bhartesh goyal (Expert) 05 August 2014
You can deposite the security cheque for collection of payment but being non cts cheque bank may not honour the cheque.

Advocate. Arunagiri (Expert) 05 August 2014
I am also having the similar opinion of Mr.Bhartesh Goyal.

CreateGoodwill (Querist) 05 August 2014
Still Non CTS chqs are accepted by bank, on the back of chq it is mention security chq not to deposit without our consent

ajay sethi (Expert) 05 August 2014
well then obtain consent of the drawer before depositing cheque or file summary suit to recover your money

Rajendra K Goyal (Expert) 05 August 2014
Non CTS cheques may be collected, obtain consent of the drawer, send notice claiming your money.

CreateGoodwill (Querist) 05 August 2014
He is not picking the ph, our representative visiting his office he is not ready to meet

Guest (Expert) 05 August 2014
Start correspondence, issue legal notice. Further, your company can well afford to hire services of a legal practitioner, why you need free advice.

T. Kalaiselvan, Advocate (Expert) 07 August 2014
Properly advised by expert Mr. Dhingra, you may follow his advise in all respects.

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