Possession of coin by person who knew it to be altered when he became possessed thereof
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Summary
Possessing a coin that you knew was altered when you got it, and doing so fraudulently or with the intent that fraud be committed, is an offence. It applies when the coin has been tampered with as described by the related offences and you knew that fact on acquiring it. The penalty can be imprisonment for up to three years and a fine.
Example
Ravi, a shopkeeper, accepts a batch of altered coins as change from a customer. He knew the coins were tampered when he took them and keeps them to pass on as change later to deceive others. Under this rule he can face up to three years imprisonment and a fine.
Bare Act
Enacted textWhoever fraudulently or with intent that fraud may be committed, is in possession of coin with respect to which the offence defined in either of the sections 246 or 248 has been committed having known at the time of becoming possessed thereof that such offence had been committed with respect to such coin, shall be punished with imprisonment of either description for a term which may extend to three years, and shall also be liable to fine.
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