What is the difference between these sentences

[rajan]

Dear all,

Can you please tell me the difference between these two sentences.

1) I am sending a envelope to you having policy papers.
2) I am sending a envelope which have policy papers.

As per my understanding having is a participle.

Likewise

3) Received cheque no. XXXX dated 31/12 being the balance amount payable on aforesaid Equity share.

I think "being" is a partciple in Sr. no. 3. But what is the meaning of "being" here. Does it mean "The fact or state of existing" ?

Thanks

[Tdol]

I wouldn't use 'having', but 'containing' or simply 'with the policy papers'. The second is grammatically incorrect- it should be 'has' because the subject is the envelope not the papers.
Being = which is

[nyggus]

Being = which is

Is 'being' always permissible in a meaning 'which is'? I.e. can we use interchangeably in any situation?

Best

[Tdol]

Is 'being' always permissible in a meaning 'which is'? I.e. can we use interchangeably in any situation?

I wouldn't-it tends to be found in formal texts, and would have a rather dated air in many contexts, IMO.