https://www.taxtmi.com/caselaws?id=301959 Section 78 of the Negotiable Instruments Act was strictly construed to mean that discharge of a promissory note can be given only by the payee or holder. A plaintiff who was neither payee nor holder could not rely on an alleged beneficial ownership or benami arrangement to obtain a decree against the maker, and the trial court's refusal to grant relief was upheld. en-us Fri, 18 Aug 1939 00:00:00 +0530 Thu, 28 Apr 2022 17:30:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301959 Section 78 of the Negotiable Instruments Act was strictly construed to mean that discharge of a promissory note can be given only by the payee or holder. A plaintiff who was neither payee nor holder could not rely on an alleged beneficial ownership or benami arrangement to obtain a decree against the maker, and the trial court's refusal to grant relief was upheld. Case-Laws Indian Laws Fri, 18 Aug 1939 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301959