Provision

Whoever, fraudulently or with intent that fraud may be committed, is in possession of counterfeit coin, having known at the time when he became possessed thereof that such coin was counterfeit, shall be punished with imprisonment of either description for a term which may extend to three years, and shall also be liable to fine.


Simply put

This section penalizes possession of counterfeit coin by a person who knew it to be counterfeit when he became possessed thereof. Mere preparation to commit a crime has been made an offence under this section. The section states that whoever, either fraudulently or with the intention that fraud may be committed, has within his possession counterfeit coin, having known at the time when it came into his possession that the coin was counterfeit, shall be punished with simple or rigorous imprisonment for a term extending up to three years, and shall also be liable to fine.



Have a Legal Issue?
Get connected to the Best Lawyers and Chartered Accountants Near You!


You might like reading these