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Companies Act, 1956

Section - 47 - Bills of exchange and promissory notes

Bills of exchange and promissory notes.

47.     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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