Dishonest or fraudulent execution of deed of transfer containing false statement of consideration
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Summary
Dishonestly joining, signing or executing a deed that purports to transfer property but contains a false statement about the consideration or about who will really benefit is an offence. Punishment may be up to three years imprisonment, or a fine, or both. The offence is non-cognizable, bailable, and triable by any magistrate.
Example
Priya signs a sale deed for her shop stating the buyer paid Rs 50 lakh, when she actually accepted only Rs 10 lakh and the rest was a private loan to a friend. Because the deed falsely states the consideration, Priya can be prosecuted and punished with up to three years imprisonment, or a fine, or both.
Bare Act
Enacted textWhoever 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 three years, or with fine, or with both.
BNSS Classification
- Imprisonment for 3 years, or fine, or both.
- Non-cognizable
- Bailable
- Triable by Any Magistrate.
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