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The Companies Act, 1956

Incorporation of Company and Matters Incidental Thereto (11 to 54)

Section 47 Bills of exchange and promissory notes

Section 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 endorse 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.