Some one contacted me over phone about bonus on my policy which was expired two years back and asked to send me some identification documents and two cheques one for Rs. 16000/- towards security and another cancelled cheque with the promise that I will get the bonus amount and security of Rs. 16000/- refunded within 10 days. Now, after 15 days I have not received any money and the cheque is also credited from my account. What can I do.

Sounds as though you have been scammed. As this policy expired 2 years ago, you never should have sent any money.

What do you mean 'cancelled' cheque; do you mean post dated check. In any event, it was a check you probably voided giving them authority to take more money out of your account. Alert your bank of this to make sure that voided cheque cannot be used.

It sounds like a scam, but I suggest you call the insurance company and ask about the status of your policy and this payment expect to receive.

Were you asked to send some of this money from the check back to them ?