Am I legally liable for stopping a blank cheque submission?

I recently joined a company after completing my post-graduation (I'm a fresher). When I joined the company, I was asked to submit a blank cheque as a bond. The offer letter didn’t specify the amount, just the cheque. Also, within the offer letter, I was told that I would receive a salary hike after six months. It’s been seven months, and I still haven't received the hike. They have threatened to terminate me without a valid reason. I have canceled the cheque I submitted (stopped the cheque payment). Will I be held or charged legally for this, and how can I get out of this situation?