A Bill of Exchange payable after presentment must be presented to the Drawee thereof for acceptance, in business hours on a business day. If no time or place is specified therein for presentment of Bill of Exchange it must be presented to the Drawee thereof for acceptance, if he/she can, after reasonable search, be found, by a person entitled to demand acceptance, within a reasonable time 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,
Provided that, if the Drawee cannot, after reasonable search, be found, the Bill of Exchange is deemed to be dishonoured.