Watch List notes:

British India, 1938, King George VI, 100 Rupees, Bombay Circle, Signed by C.D. Deshmukh, B Prefix, S. No. B1 722350, (KJ & RR # 4.7.2A), folds, stains, annotation, staple holes at issue, graded by PMG as 25 Very Fine, Very Rare.