Resigned with a Service Bond: Do I Need to Pay from My Zero Balance Account?

Hi and Hello,

I have recently resigned from my job, and I have a 2-year service bond with the company. They have collected an undated cheque of 200,000 rupees from my zero balance account.

Do I need to pay it, or since it is a zero balance account, I need to know whether there will be any problems.

Hello,

There is certainly an ironic connection between your name 'Iamtrue' and your query :-( Whether you have any balance in your account or not, the moment the company deposits your cheque into their bank and if it bounces, you could face serious trouble as cheque bouncing is a criminal offense.

Regards,
TS

Friend, consult a lawyer and serve a legal notice. You will not have any problem neutralizing the service bond if you move legally.

Dear Friend,

You have given an undated cheque for Rs. 2,00,000/- (two lakhs), and it was given by you knowing the nature of the work. Perhaps it was a later thought about the cheque; please ensure the following:
1) The reason for giving that cheque.
2) What made you offer/give the cheque - these details are known to you, so please take appropriate action accordingly.