IPC 240 - Same with respect to Indian coin
Description of IPC 240
Description of IPC Section 240
According to section 240 of Indian penal code, 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.
IPC 240
| Offence | Same with respect to Indian coin |
| Punishment | 10 Years + Fine |
| Cognizance | Cognizable |
| Bail | Bailable |
| Triable | Sessions Court |
Up to 10 years of imprisonment and a fine.
IPC 240 in Simple Words
In simple words, Section 240 of the Indian Penal Code states that if someone knowingly possesses a counterfeit Indian coin and with the intent to commit fraud, gives or tries to persuade someone else to accept it, they can be imprisoned for up to ten years and fined.
Importance and Practical application
IPC Section 240 addresses the serious issue of fraudulent handling of counterfeit Indian coins, aiming to protect the integrity of Indian currency and maintain public trust in financial transactions.
Practical application:
Examples: Using a counterfeit Indian coin in a business transaction. Legal Consequences: Ensures stringent penalties for fraud involving Indian currency.Conclusion
The section imposes strict penalties of up to 10 years of imprisonment and fines for those who attempt to use counterfeit Indian coins, reinforcing the legal framework against currency fraud and deterring such illicit activities.The section imposes strict penalties of up to 10 years of imprisonment and fines for those who attempt to use counterfeit Indian coins, reinforcing the legal framework against currency fraud and deterring such illicit activities.