What happens wen a Bill of xchange matures on a public holiday.....n an emergency holiday is declared on preceeding day of maturity of bill...!!!
Eg If a bill is maturing on 2nd october....n den after sometym an emergency holiday is declared on 1st october den wat will b d date of maturity of bill...!!
According to me Date of maturity of bill will be 3rd october......
Shahrukh ji,
1. When due date of the bill is a public holiday - The preceding business day will be the due date.
2. When due date of the bill is an emergency/ unforeseen holiday - The next following day will be the due date
In the given example the due date will be 3rd of October.
Members, please correct me if I'm wrong.
CCI
Pro
CAclubindia
