Hey, I’m working for a private firm in Gurgaon. They took a cheque of ₹90,000 from me as a security deposit for a 2-year bond. However, I haven’t signed any official bond or paperwork related to that cheque. They just gave me a receipt. If I leave the company before 2 years and ask the bank to stop the payment, can they legally take action against me?

Apni Law
Apni Law
Law Forum › Category: Cheque Bounce › Hey,

I’m working for a private firm in Gurgaon. They took a cheque of ₹90,000 from me as a security deposit for a 2-year bond. However, I haven’t signed any official bond or paperwork related to that cheque. They just gave me a receipt. If I leave the company before 2 years and ask the bank to stop the payment, can they legally take action against me?

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Apni Law Staff asked 5 months ago

Hey,

I’m working for a private firm in Gurgaon. They took a cheque of ₹90,000 from me as a security deposit for a 2-year bond. However, I haven’t signed any official bond or paperwork related to that cheque. They just gave me a receipt. If I leave the company before 2 years and ask the bank to stop the payment, can they legally take action against me?

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Best Answer

Apni Law Staff answered 5 months ago

Under Indian law, a security deposit must be supported by a valid contract. Since you haven’t signed a bond agreement, the company lacks a legal basis to claim the deposit. If you stop payment on the cheque, they may face difficulty pursuing legal action. However, it’s advisable to consult with a lawyer for specific guidance on your situation.

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