Legal Question in Banking Law in India

i am working with a software company and i signed a check for rs 2.5 lakh on my salary acount and i am not comfortable wid the job i wnt to break a bond so if company claims chexk thn obviously it will bounce coz money in my salary account is less so wot will happen plz rply. i m so muxh frustrted plz plz

Asked on 2/13/11, 12:42 pm

2 Answers from Attorneys

J. Radhakrishnan independent Practice

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If the cheque has been given as security for the bond to give service to the company, issue a notice by RPADto the company, resigning your job and intimating them that t hey should return the cheque given by you which was taken by them as a penalty to bind you to the job and the same is illegal being in restraint of trade. Issue notice to the bank also to stop payment of your cheque as and when presented by the company. If still they present the cheque, it bounces and if they issue notice demanding payment, give a proper reply in consultation with the local Advocate and defend the same with his assistance.

Answered on 2/13/11, 8:47 pm

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