Consider the following statement regarding legal provisions under Indian law: 'A bill of exchange cannot be drawn payable to the bearer on demand because this would violate the provisions of the Reserve Bank of India Act, 1934, which gives the RBI the sole right to issue demand notes payable to bearer.' Which legal instrument's restriction on demand bearer documents is accurately described by this statement?

X draws a bill on Y for 3,00,000 units on June 1, 2025, for 3 months. Y accepts it. On July 1, X endorses it to Z. On August 1, Z endorses it to W. On September 1, W sends the bill to the bank for collection. On the due date, the bill is dishonored. Noting charges are 1,200 units. W pays the bank and then recovers from Z. Z recovers from X. X finally sues Y. How much will X eventually recover from Y including the original amount, noting charges, and 2,000 units as legal expenses?

A manufacturer in Ludhiana (the drawer) ships textiles to a wholesaler in Kolkata (the drawee) and draws a bill of exchange for 10,00,000 units dated October 10, 2025, with a tenure of 90 days. The wholesaler accepts the bill on October 15, 2025. On November 1, 2025, the manufacturer endorses the bill in favor of a raw material supplier in Surat to settle a debt. On December 1, 2025, the supplier in Surat discounts the bill with their bank at 10 percent per annum. On January 11, 2026, the bill is presented for payment and is dishonored. The bank pays 2,000 units as noting charges. The manufacturer is now informed by the supplier that they must pay the total amount. What is the total amount the manufacturer is liable for, and who is the ultimate party they can recover this from?