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Marudhar Arts
Auction 31  18 Sep 2020
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Lot 434

Starting price: 150 000 INR
Price realized: 150 000 INR
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British India, 1938, King George VI, 1000 Rupees, Calcutta Circle, Signed by J.B. Taylor, three seals on the obverse and one seal on the reverse in black ink reads "PAYMENT REFUSED UNDER ORDERS OF THE CENTRAL GOVERNMENT", A Prefix, S. No, A0 741467, (KJ & RR # 4.8.1B), bank seals at reverse, holes, folds, minor stains, about very fine, Extremely Rare.


Note:It is interesting to observe payment refused seals on this banknote. The high value notes of Rupees 500, 1000 & 10000 in circulation including Uniface notes were demonetised in January 1946. A specified time and method was prescribed to exchange these notes. When these notes were presented for exchange after the specified period the notes were inscribed with a rubber stamp which reads "Payment refused under orders of the Central Government".

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