Help - Cheque bounce

Shubhi (Querist) 26 June 2010 This query is : Resolved
Mr. Y has issued some blank cheques to Mr. X as surity against loan. Now Y has repaid the loan vide cheque issued by his mother in the name of X's brother. Receipt of this cheque is signed by Mr. X and X's brother.

(receipt is not stating about loan or any other blank ch. issued earlier by Y. It is only a simple cheque receipt in which it is mentione dthat cheque is issued on behalf of Y and X's brother is accepting it on behalf of X)

X has taken the cheque but not returned the blank cheque or the loan agreement. What should Y can do in this regard.

Y is apprehensive that X can present the cheque and on bouning he will file a suit.

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DEFENSE ADVOCATE.-firmaction@g (Expert) 26 June 2010
State the facts and give notice for return of cheques.

adv. rajeev ( rajoo ) (Expert) 26 June 2010
issue notice without making unnecessary delay and intimate the bank to stop the payment and inform the same to the person who is having cheque

PJANARDHANA REDDY (Expert) 27 June 2010
INITIATE ISSUING LEGAL NOTICE FIRST FROM YOUR SIDE AND ASK THE BANK TO STOP PAYMENT.

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