Possession of Indian coin by person who knew it to be altered when he became possessed thereof
AI Assist
Summary
Keeping Indian coins that you knew had been altered, with the intention of committing or facilitating fraud, is an offence. It applies when you became possessed of the coin knowing it was tampered with and kept it to use in a dishonest way. The punishment can be imprisonment for up to five years and a fine.
Example
Priya, a market vendor, receives a batch of coins she knows have been shaved down to reduce value and keeps them intending to use them as change to cheat customers. Under this rule she can face up to five years imprisonment and a fine for possessing altered coins with fraudulent intent.
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 247 or 249 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 five years, and shall also be liable to fine.
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