Taking a blank security deposit cheque from employee to give him a chance after negative background verification - guide us on the format and if it is legal?

Mansi,
This whole business of taking cheque is not clear , if you are willing to give chance to the employee do it fairly .
I am assuming that since you have already appointed him post interview , you have found his skill sets to be a good match, since the major issue is related to following company norms , you can have a longer probation period and that would give him a fair chance to prove himself.