Articleship at Grant Thornton
22 Points
Joined June 2010
Based on the Quetion
With Reference to Seciton 58 Of the Act
58.Instrument obtained by unlawful means or for unlawful
consideration. When a negotiable instrument has been lost, or has been
obtained from any maker, acceptor or holder thereof by means of an
offence or fraud, or for an unlawful consideration, no possessor or
indorsee who claims through the person who found or so obtained the
instrument is entitled to receive the amount due thereon from such
maker, acceptor or holder, or from any party prior to such holder,
unless such possessor or indorsee is, or some person through whom he
claims was, a holder thereof in due course.
If Amit has taken the Bill in Due course, He can entitle the amount from the Acceptor or the Drawer.
Santosh.