WE (INCLUDING MY WIFE) WERE 4 DIRECTORS OF A PVT LTD COMPANY (AAPL). ALL WERE SIGNING AUTHORITY OF BANK. ME & MY WIFE ISUUED A BLANK SECURITY CHEQUE OF COMPANY TO OWNER OF A FIRM FROM WHERE WE REGULARLY PURCHASE GOODS IN JULY 15 & TOOK RECIEPT WITH DATE.
LATER WE BOTH RESIGNED IN JUNE 16. OTHER 2 DIRECTORS ARE RUNNING THE COMPANY.
OPPOSITE PARTY , WRITING DATE BEFORE OUR RESIGNATION, PRESENTED IN BANK & BOUNCED & AFTER LEGAL NOTICE , FILED CASE AGAINST US UNDER NI ACT 138. THEY DID NOT CONSIDER OUR REPLY OF LEGAL NOTICE.
RECEIVER OF BLANK SEC CHEQUE IS THE OWNER/PARTNER OF OPPOSITE FIRM ON ONE HAND & DIRECTOR OF OUR COMPANY ON OTHER( SIGNING AUTHORITY OF ISSUED CHQ).
WHAT SHOULD WE DO NOW ??
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