law: Companies Act, 1956
  Sec 47    -     Bills
  
  of exchange and promissory notes. 
  A bill of exchange, hundi or promissory note shall be deemed to
  
  have been made, accepted, drawn or endorsed on behalf of a company if drawn,
  
  accepted, made, or endorsed in the name of, or on behalf or on account of, the
  
  company by any person acting under its authority, express or implied.