bills of exchange
This query is : Open
amit parihar
(Querist)
17 February 2009
As per negotiable instrument act a bill can be accepted before its due date and also it can be subsequently endorsed without acceptance.My doubt is if the drawer of the bill needs it to be discounted with the bank ,when the bill shall be accepted and such bill can be endorsed or not
CA Nitin Wadhwani
(Expert)
17 February 2009
Bills discounted has been prohibited by reserve bank of India.
amit parihar
(Querist)
18 February 2009
then whats the purpose of having bills of exchange, if they are prohibited...
CA Nitin Wadhwani
(Expert)
18 February 2009
"Discounting" of bills of exchange is prohibited.
Bills of exchange are not prohibited
Bills of exchange are not prohibited
amit parihar
(Querist)
19 February 2009
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