Provision

Whoever fraudulently or with intent that fraud may be committed, is in possession of coin with respect to which the offence defined in either of the sections 247 or 249 has been committed having known at the time of becoming possessed thereof, that such offence had been committed with respect to such coin, shall be punished with imprisonment of either description for a term which may extend to five years, and shall also be liable to fine.


Simply Put

The section states that whoever, either fraudulently or with intention that fraud may be committed, possesses a coin with respect to which an offence under section 247 or 249 had been committed, with the knowledge at the time it came to his possession that such an offence had been committed with respect to it, shall be punished with simple or rigorous imprisonment for a term extending up to five years, and shall be liable to fine.



You might like reading these


Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!