Provision

Whoever having any counterfeit coin, which is a counterfeit of [Indian coin], and which, at the time when he became possessed of it, he knew to be a counterfeit of [Indian coin], fraudulently or with intent that fraud may be committed, delivers the same to any person, or attempts to induce any person to receive it, shall be punished with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.


Simply put

The section states that whoever has any such counterfeit coin which is a counterfeit of Indian coin, and about which at the time he became possessed of it he had knowledge that it was a counterfeit of Indian coin, with intention to defraud or with intention that fraud may be committed, either delivers the same to any person, or attempt to induce any person to receive it, shall be punished with simple or rigorous imprisonment for a term extending up to ten years, and shall also be liable to fine.



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