Bills of Exchange Act, 1840, 6 of 1840 (Rep., Act 26 of 1881)

Section V. And it is hereby enacted, that no Bill of Exchange or Promissory Note that shall be drawn or made af

Repealed or not in force · As amended up to 2026-08

V. And it is hereby enacted, that no Bill of Exchange or Promissory Note that shall be drawn or made after the passing of this Act shall, though it may have been given for a usurious consideration, or upon a usurious contract, be void in the hands of an Indorsee for valuable consideration, unless such Indorsee had, at the time of discounting or paying such consideration for the same, actual notice that such Bill of Exchange or Promissory Note had been originally given for a usurious consideration, or upon a usurious contract.

Source: India Code