IPC 242 - Possession of counterfeit coin by a person who knew it to be counterfeit when he became possessed thereof
Description of IPC 242
Description of IPC Section 242
According to section 242 of Indian penal code, 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.
IPC 242
| Offence | Possession of counterfeit coin by a person who knew it to be counterfeit when he became possessed thereof |
| Punishment | 3 Years + Fine |
| Cognizance | Cognizable |
| Bail | Bailable |
| Triable | Sessions Court |
Up to 3 years of imprisonment and a fine.
IPC 242 in Simple Words
In simple words, Section 242 of the Indian Penal Code states that if someone knowingly possesses a counterfeit coin with the intention to commit fraud, they can be imprisoned for up to three years and fined.
Importance and Practical application
IPC Section 242 addresses the possession of counterfeit coins with fraudulent intent, emphasizing that mere possession of counterfeit currency becomes a criminal act when there is an intention to use it for deception or fraud.
Practical application:
Examples: Keeping counterfeit coins with plans to use them in fraudulent activities. Legal Consequences: Targets those who hold counterfeit currency with the purpose of committing fraud.Conclusion
This section imposes penalties of up to 3 years of imprisonment and a fine for individuals found in possession of counterfeit coins with the intent to commit fraud, thereby reinforcing the legal system's commitment to preventing fraud and maintaining currency integrity.