Bank Manual of Instructions on Bill Discounting" relating to
discounting of Bills of Exchange, laying down the procedure therefor,
relevant portions whereof (marked ... discount the bills of exchange, a simple accommodation Bill of Exchange
could have been executed. In order that the bank could discount a bill
creditor. Illustrations (a) A, in consideration of B's discounting, at, A's request, bills of exchange for C, guarantees to B, for twelve months ... such bills to the extent of 5,000 rupees. B discounts bills for C to the extent of 2,000 rupees. Afterwards
cial institution, which is predominantly engaged in the acceptance or discounting of bills of exchange and promissory notes and which is approved ... financial institution, which is predominantly engaged in the acceptance or discounting of bills of exchange and promissory notes and which is approved by the Bank
request letters for release of Packing Credit Advances and
Bills of Exchange for Inland Bills Discounted, as authorised
signatory of M/s. Modern Denim ... tune of 20% from Export Packing Credit to Foreign Bills
Purchase/Foreign Bill Discount (FBP/FBD)and vice versa for a
maximum period
accounts and also to draw a bill of exchange on the purchaser. This bill is discounted with the National and Grindlays Bank Ltd. Thereafter, when ... bill. The bill was indorsed to the bank in the limited way in which the drawer of a bill negotiate a bill of exchange before
bills. These bills were always accompanied by Lorry Receipts, and, according to the usual banking practice, to the extent of the limit allowed, these bills ... member banks, each branch dealt with the firms directly, to whom bill discounting facility was permitted. The transport operator, who issued the Lorry Receipts
foreign exchange will also be free of Wealth-tax. 3. The present Bill seeks to replace the said Ordinance - Gazette of India ... from the above, the Bill also provides for management of investments by non-residents, merchant bankiq, direct lending, bills discounting, leasing and other matters, including
standard rate at which it is prepared to buy or re-discount bills of exchange or other commercial paper eligible for purchase under this
Interest on ICD's
Rs. 50,34,796
(2)
Bill discounting charges not realized oversix months ... lease income, Rs. 17,99,398 as bill discounting charges and Rs. 3,98,587 as other income (dividend).
3.2 From a perusal of accounting
bills discounted and discount charges accounted as income were also furnished by the party and the said party had issued cheques towards the bill discounting ... bills discounted and discount charges accounted as income is given in the statement No. 1. This party has issued 11 cheques towards the bill discounting
