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Negotiable Instruments Act, 1881


25. When day of maturity is a holiday

When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the next preceding business day.

Explanation: The expression "Public Holiday" includes Sundays 15[***] and any other day declared by the 16[Central Government], by notification in the Official Gazette, to be a public holiday.



Negotiable Instruments Act, 1881 Back




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