NIA 25 — When day of maturity is a holiday

Negotiable Instruments Act, 1881

Statutory text

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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