Negotiable Instruments Act Section 25 — When day of maturity is a holiday

CHAPTER II OF NOTES, BILLSAND CHEQUES

General

Summary

If the day a promissory note or bill of exchange is due to be paid falls on a public holiday, it is legally considered due on the previous business day instead. A public holiday includes Sundays and any other day that the Central Government officially declares as a holiday.

Official Text

When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the next preceding, business day.

Explanation.—The expression “public holiday” includes Sundays: 1*** and any other day declared by the 2[Central Government], by notification in the Official Gazette, to be a public holiday.