Legal Question in Banking Law in India

If you have left some task assigned by the employer undone or if you leaving the job before the term agreed which may resultant losses to the employer then surety bond and cheque can be sued by the employuer otherwsie is no liablity to honour the such cheque

in an action for bouncing of cheque, you have to prove that it was given as security for bond for service and the same is tainted by illegal contract as in restraint of trade. Better send notice to your past employer of the unenforceability of the cheque and also issue stop payment to the Bank.

Bonded labour concept is not prevailing in India but contractual obligations do exist here.

The Bond signed by you with the company is an agreement or contract governed by The Indian Contract Act.

If any of the party breaches the conditions of the contract then he is liable to the actions taken by the other party either to perform or not to perform any act, also to recover the damages or the contractual amount as agreed.

Regards