Sections 65-67 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.
Sections 65 to 67 fill in three practical details of presentment for payment: the hours in which it must be made (section 65), the timing for a note or bill payable at a specified period after date or sight (section 66), and the timing for a promissory note payable by instalments (section 67). This article reads them as per the consolidated text consulted.
Presentment for payment must be made during the usual hours of business, and within banking hours if at a banker's (section 65). A note or bill payable at a specified period after date or sight must be presented at maturity (section 66). A note payable by instalments must be presented on the third day after the date fixed for each instalment, and non-payment then has the same effect as non-payment of a note at maturity (section 67).
Where these sections sit
Section 64 states the general duty to present for payment; see presentment for payment and truncated cheques. Under it, a holder who does not present loses recourse against the other parties. Sections 65 to 67 supply some of the "hereinafter provided" detail: hours, date and instalments. The place of presentment is in sections 68 to 71 and is covered separately.
If an instalment note has already gone unpaid and you want to know whether the holder presented correctly before a demand is sent, our recovery notice service can prepare the demand once the dates are checked.
Section 65: hours for presentment
The text of section 65 is one sentence: "Presentment for payment must be made during the usual hours of business and, if at a banker's, within banking hours."
Two rules result:
- General rule. Presentment must be made in the usual hours of business of the person to whom it is made.
- At a banker's. Presentment must be made within banking hours.
The section does not specify what hours those are. The text consulted gives no clock times and none are assumed here. The hours depend on the usual hours of the business concerned and, for a bank, its banking hours.
Example. Rathore Dairy holds a cheque drawn on a bank. Its agent reaches the branch after the counters have closed for the day and tries to present it. Under section 65, presentment at a banker's must be within banking hours, so presentment at that time does not meet the section.
Section 66: instruments payable after date or sight
Section 66 says: "A promissory note or bill of exchange, made payable at a specified period after date or sight thereof, must be presented for payment at maturity."
Points to note:
- It covers a promissory note or bill of exchange. Cheques are not mentioned.
- It applies where the instrument is payable "at a specified period after date or sight".
- Presentment must be at maturity.
How maturity is worked out, including days of grace and public holidays, is dealt with in sections 21 to 25; see at sight, after sight, maturity and days of grace and the article on calculating maturity (sections 23 to 25). Section 66 does not repeat those rules. It only fixes the moment for presentment: maturity.
For a bill payable after sight, the earlier step is presentment for acceptance, which sets the sight date; see presentment for acceptance and the drawee's forty-eight hours.
Section 67: promissory note payable by instalments
Section 67 reads: "A promissory note payable by instalments must be presented for payment on the third day after the date fixed for payment of each instalment; and non-payment on such presentment has the same effect as non-payment of a note at maturity."
This has two limbs.
When to present. On the third day after the date fixed for payment of each instalment. Each instalment gets its own presentment. A holder does not wait until the last instalment.
What non-payment does. Non-payment on that presentment "has the same effect as non-payment of a note at maturity". The text does not set out that effect in this section. The consequences of dishonour for a note at maturity are found elsewhere in the Act, for example in the sections on dishonour (sections 91 and 92) and notice.
The text speaks of "the third day after the date fixed". It does not say whether public holidays are counted or excluded for this purpose, and this article does not supply an answer.
A worked table
Take a note for four equal instalments due on the 10th of four consecutive months.
| Instalment | Date fixed for payment | Presentment under section 67 |
|---|---|---|
| 1st | 10th of month 1 | 13th of month 1 |
| 2nd | 10th of month 2 | 13th of month 2 |
| 3rd | 10th of month 3 | 13th of month 3 |
| 4th | 10th of month 4 | 13th of month 4 |
The dates are invented to show the counting. Each presentment must also respect section 65: it must fall within the usual hours of business or, at a banker's, banking hours.
Example. Chopra Motors gives Nagpal Finance a promissory note payable in monthly instalments. The first instalment is due on the 5th. Nagpal Finance presents the note on the 8th, within the usual hours of business. The maker does not pay. Under section 67, that non-payment has the same effect as non-payment of a note at maturity, for that instalment.
Practical points
- Diary the third day. For an instalment note, list the date fixed for each instalment and the third day after it.
- Respect hours. An attempt to present after hours may not meet section 65.
- Note each presentment. Keep a record of date, time, place and the person who presented, in case the point is disputed.
- Do not assume a cheque follows these rules. Section 66 and section 67 speak of notes and bills; cheques have their own rules in sections 72 to 74.
Need help with an unpaid instalment note?
If an instalment note has stopped being paid, a recovery notice can put the dates, the instalments missed and the amount claimed on record. Bring the note, a statement of instalments paid and any proof of presentment.
Key takeaways
- Section 65: present during the usual hours of business, and within banking hours if at a banker's.
- Section 66: a note or bill payable at a specified period after date or sight must be presented at maturity.
- Section 67: an instalment note must be presented on the third day after the date fixed for each instalment.
- Non-payment on that presentment has the same effect as non-payment of a note at maturity.
- The text gives no clock times for business or banking hours.
Read next
- Presentment for payment and truncated cheques (section 64)
- Place of presentment for payment (sections 68-71)
- Calculating maturity (sections 23-25)
- Types of negotiable instruments: cheque, bill, promissory note
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.