Cheques given for security purpose deposited in bank bounces

14-Apr-2023 (In Cheque Bounce Law)
I submitted 2 cheques with Mr Ali as security and signed an agreement in police station stating that the cheques are for security purpose only but Mr Ali submitted the cheques and filed a case against me even though i paid Rs 40000 so far and I was about to pay more. Need guidance in what should i do next
Answers (2)

Answer #1
853 votes
If you have the copy of the agreement and recipt of rs. 40,000/-. You can contest the case. You can file replication under Section 145(2) NI Act. At the time of notice all these things to be recorded in the Court.
Answer #2
569 votes
You can face imprisonment for two years and a heavy fine as your cheques got bounced . Before giving any cheque to someone whether it is for security reason then you should have sufficient balance in your account.

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