Indian Penal Code 1860
Section 242 :
Possession of counterfeit coin by person who knew it to be counterfeit when be became possessed thereof:
(See section 180 (Explanation) of BNS 2023)
Classification of Offence:
Offence: Possession of counterfeit coin by a person who knew it to be counterfeit when he became possessed thereof.
Punishment :Imprisonment for 3 years and fine.
Cognizable or Non-cognizable :Cognizable
Bailable or Non-bailable :Non-bailable
Compoundable or Non-compoundable : Non-compoundable
By Which Court Triable :Magistrate of the first class.
————–
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 may extend to three years, and shall also be liable to fine.
