Section 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: 1 *** and any other day declared by the 2 [Central Government], by notification in the Official Gazette, to be a public holiday.

Official Hindi (PDF) ↗

‹ Prev All sections Next ›