Provision

Whoever dishonestly or fraudulently signs, executes or becomes a party to any deed or instrument which purports to transfer or subject to any charge any property, or any interest therein, and which contains any false statement relating to the consideration for such transfer or charge, or relating to the person or persons for whose use or benefit it is really intended to operate, shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.


Simply put

It states that whoever either dishonestly or fraudulently signs, executes or becomes a party to any deed or instrument which talks about transferring any property or regarding any charge on any property or any interest in the property, and if it contains any false statement relating to the consideration for such transfer or charge, or relating to the person or persons for whose use or benefit it is really intended to operate, shall be punished with simple or rigorous imprisonment for a term extending up to two years, or with fine, or with both.



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