Legal Question in Banking Law in India

As you are in UAE, you must be well aware as to how dangerous it would be to issue a cheque over here and then by chance it gets dishonoured. In India also a dishonoured cheque would end up in Criminal case being filed under section 138 of the Negotiable Instruments Act

You have not mentioned the details of the business, as to the nature of business, whether it is a Partnership Firm, whether U are also a partner in the Business and whether you are the only signatory in the Bank account of the Business concern, etc. Only on your furnishing the necessary information, would it be possible to advise you properly on the matter.

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Best Regards,

Gentleman, do not mix friendship with the business. Signing of blank cheques and later getting dishonour for any reason involves criminal liability. You may not have any escape once the criminal complaint is filed. It is certainly not advisable.

don't give blank signed cheques. Ask your friends to open separate accounts for their business and transfer funds from your account, if you want to help them.