Reckoning of prescribed days excludes intervening public holidays under the Negotiable Instruments Act, with substitution if falling on a holiday. For reckoning the specified fifth or eighth day in relation to timing obligations for prospectus, allotment and other share or debenture issue matters, ... Summary
Reckoning of prescribed days excludes intervening public holidays under the Negotiable Instruments Act, with substitution if falling on a holiday.
For reckoning the specified fifth or eighth day in relation to timing obligations for prospectus, allotment and other share or debenture issue matters, any intervening day that is a public holiday under the Negotiable Instruments Act shall be disregarded, and if the reckoned day is itself such a public holiday it shall be substituted by the first subsequent day which is not a public holiday.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.