If you have availed loan it becomes your duty to repay it regularly as per the agreement.
You have defaulted the repayment continuously for four months or more but you still want to protect yourself from the legal action that can be initiated for this default and want to defy law in this regard.
You have to talk to the Manager of the bank in person, request for restructure the loan and may also agree to pay an amount upfront which will enable to gain their confidence and then your loan repayment may be restructured and regularised.
The security cheque is meant for this purpose only, once they get the cheque bounced then they may initiate cheque bounce criminal case against you.
They will initiate the case where the bank is situated.