Coinage Act, 2011
14. Prohibition and penalty for unlawful making, issue or possession of pieces of metal to be used as money.-
1. No person shall
a. make or issue or attempt to issue any metal piece except as provided under section 4 for the purpose of coin;
b. Possess custody or control of any metal piece with the intent to issue the piece for use as money for a medium of exchange.
2. Whoever contravenes the provisions of sub-section (1) shall be punishable with imprisonment which may extend to one year or with fine or with both:
Provided that if any person convicted under this section is again convicted, he shall be punishable with imprisonment which may extend to three years or with fine or with both.