Sections 61-63 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Section 61 says when a bill of exchange payable after sight must be presented to the drawee for acceptance. Section 62 does the same for a promissory note payable at a certain period after sight, which must be presented to the maker for sight. Section 63 gives the drawee forty-eight hours, exclusive of public holidays, to consider acceptance if he asks. This article reads all three as per the consolidated text consulted.
A bill payable after sight must be presented to the drawee for acceptance within a reasonable time after it is drawn, in business hours on a business day; if it is not, no party is liable to the person who defaulted (section 61). A note payable at a certain period after sight must be presented to the maker for sight in the same way (section 62). If the drawee asks, the holder must allow forty-eight hours, exclusive of public holidays, to consider acceptance (section 63).
Section 61: presentment of a bill payable after sight
Section 61 begins: "A bill of exchange payable after sight must, if no time or place is specified therein for presentment, be presented to the drawee thereof for acceptance, if he can, after reasonable search, be found, by a person entitled to demand acceptance, within a reasonable time after it is drawn, and in business hours on a business day."
Take the conditions in turn:
- Which bills? Those payable after sight, where no time or place is specified in the bill for presentment.
- To whom? The drawee, if he can be found after reasonable search.
- By whom? A person entitled to demand acceptance.
- When? Within a reasonable time after the bill is drawn, in business hours on a business day.
Consequence of default
The text continues: "In default of such presentment, no party thereto is liable thereon to the person making such default." A holder who does not present as required loses his claim against the parties on the bill; the section describes this as no party being liable to the person making the default.
When the drawee cannot be found
Two further paragraphs deal with this:
- If the drawee cannot, after reasonable search, be found, the bill is dishonoured.
- If the bill is directed to the drawee at a particular place, it must be presented at that place; if at the due date for presentment he cannot, after reasonable search, be found there, the bill is dishonoured.
For the meaning of dishonour by non-acceptance, see dishonour by non-acceptance and by non-payment.
Presentment by registered post
The last paragraph says: "Where authorized by agreement or usage, a presentment through the post office by means of a registered letter is sufficient." So a registered letter is a valid mode only where agreement or usage authorises it. The text does not say that registered post is valid in every case.
Because the rules turn on facts such as time of presentment and the place named in the bill, a short legal consultation can help check whether presentment was made correctly before you decide how to proceed.
Section 62: a promissory note payable after sight
Section 62 reads: "A promissory note, payable at a certain period after sight must be presented to the maker thereof for sight (if he can after reasonable search be found) by a person entitled to demand payment, within a reasonable time after it is made and in business hours on a business day. In default of such presentment, no party thereto is liable thereon to the person making such default."
The structure matches section 61, but with differences:
| Point | Section 61 (bill) | Section 62 (note) |
|---|---|---|
| Instrument | Bill of exchange payable after sight | Promissory note payable at a certain period after sight |
| Presented to | The drawee, for acceptance | The maker, for sight |
| By whom | Person entitled to demand acceptance | Person entitled to demand payment |
| Reasonable time runs from | After it is drawn | After it is made |
| Business hours on a business day | Yes | Yes |
| Default | No party liable to the person making default | Same |
The meaning of "after sight" is dealt with in sections 21 and 22; see at sight, after sight, maturity and days of grace. A note payable on demand or at sight is not described by section 62. It addresses a note payable at a certain period after sight.
Section 63: the drawee's time for deliberation
Section 63 says: "The holder must, if so required by the drawee of a bill of exchange presented to him for acceptance, allow the drawee forty-eight hours (exclusive of public holidays) to consider whether he will accept it."
Notes:
- The right is the drawee's, but it arises "if so required". The drawee has to ask.
- The period is forty-eight hours, as printed. Public holidays are excluded.
- The copy consulted prints section 63 twice with identical text. We have read it once.
What if the holder allows more than forty-eight hours? Section 83 says that previous parties who have not consented to that allowance are discharged from liability to the holder; that is explained in discharge from liability by cancellation, release or payment.
Example. Gill Wholesale draws a bill payable thirty days after sight on Saxena Retail. No time or place for presentment is written on the bill. Gill Wholesale's agent presents it at Saxena Retail's counter during business hours on a working day, shortly after the bill is drawn. Saxena Retail asks for time to consider. Section 63 requires the holder to allow forty-eight hours, excluding public holidays. If the holder, by agreement with Saxena Retail, gives longer than that, previous parties who did not consent are discharged under section 83.
Need help with a bill that was not presented on time?
If a bill or note has been refused, or you are unsure whether presentment was done in the way the Act requires, a legal consultation can help you check the dates, the place of presentment and the parties you can still look to.
Key takeaways
- Section 61: a bill payable after sight, with no time or place specified, must be presented to the drawee for acceptance within a reasonable time after it is drawn, in business hours on a business day.
- If the drawee cannot be found after reasonable search, the bill is dishonoured; the same applies at a named place.
- Presentment by registered post is sufficient only where authorised by agreement or usage.
- Section 62: a note payable at a certain period after sight must be presented to the maker for sight within a reasonable time after it is made.
- Section 63: if the drawee requires it, the holder must allow forty-eight hours, exclusive of public holidays.
Read next
- Instrument acquired after dishonour or when overdue (sections 59-60)
- Presentment for payment and truncated cheques (section 64)
- At sight, after sight, maturity and days of grace (sections 21-22)
- Bill of exchange in export trade
Disclaimer: Based on a consolidated text of the Negotiable Instruments Act, 1881 stating the position as of 26 December 2015 and on the Negotiable Instruments (Amendment) Act, 2018, as consulted on 2 October 2026. Later amendments and current criminal procedure law should be checked. This article is general information, not legal advice; check the official text before acting.