Legal Question in Banking Law in India

Negotiable Instrument Act section 25

If the bill of exchange falls due on sunday or a public holiday declared by the government, when it will be due for payment - next working day or preceeding day of the due date ?


Asked on 4/09/09, 6:07 am

4 Answers from Attorneys
Pranav Desai PD Legal & Associates

Re: Negotiable Instrument Act section 25

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Answered on 4/13/09, 5:19 am
J. Radhakrishnan independent Practice

Re: Negotiable Instrument Act section 25

It will be due on the next preceding business day. Sec.25 of the N.I.Act is as follows:- 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: and any other day declared by the [Central Government], by notification in the Official Gazette, to be a public holiday.

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Answered on 4/09/09, 10:20 pm
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Negotiable Instrument Act section 25

next working day

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Answered on 4/10/09, 8:16 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Negotiable Instrument Act section 25

As per Negotiable Instruments Act, the working day, next to the date of Sunday, may be the due date. Same will apply to a 'public holiday', if the holiday has been declared under the N.I.Act.

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Answered on 4/09/09, 7:42 am


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