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Report No. 29

Section 241

Money forging

(1) Whoever-

(a) counterfeits or forges money in current tender for the purpose of putting it into circulation,

(b) acquires money counterfeited or forged by another for putting it into circulation, or

(c) puts into circulation false or forged money,

shall be punished with loss of liberty ranging from two years to eight years.

(2) Punishment shall be loss of liberty ranging from five years to twelve years, if money forging was committed

(a) in criminal partnership,

(b) in respect of a great quantity of money or money of great value.

(3) Punishment shall be loss of liberty ranging from six months to five years, if coins were counterfeited or if the quantity or value of the false or forged money is not considerable.

(4) For money forging, confiscation of property may also be inflicted as a supplementary punishment.

Section 242

Money forging

(1) If in the case falling under clause (c), para (1), section 241 the perpetrator had lawfully acquired the false or forged money in the belief that it was genuine, and subsequently recognized that the money was false or forged, punishment shall be loss of liberty or correctional-educational work not exceeding one year.

(2) Punishment shall be loss of liberty not exceeding three years, if the crime was committed in respect of a great quantity of money or money of great value.

Section 243

Money forging

Whoever carries out an act of preparation for money forging, shall be punished with loss of liberty or correctional-educational work not exceeding one year.



Proposal to include certain Social and Economic Offences in the Indian Penal Code Back




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