Section 47 – The Companies Act,1956

The Companies Act, 1956

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.

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The Companies Act, 1956

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