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Companies Act, 1956

Sec 47    -     Bills of exchange and promissory notes.

A bill of exchange, hundi or promissory note shall be deemed to have been made, accepted, drawn or endorsed on behalf of a company if drawn, accepted, made, or endorsed in the name of, or on behalf or on account of, the company by any person acting under its authority, express or implied.

Companies Act, 1956 Back

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