Section 242 Indian Penal Code

Section 242 of the Indian Penal Code 1860 is about Possession of counterfeit coin by person who knew it to be counterfeit when he became possessed thereof. It is under CHAPTER XII (OF OFFENCES RELATING TO COIN AND GOVERNMENT STAMPS) of the Code.

Possession of counterfeit coin by person who knew it to be counterfeit when he became possessed thereof

Whoever, fraudulently or with intent that fraud may be committed, is in possession of counterfeit coin, having known at the time when he became possessed thereof that such coin was counterfeit, shall be punished with imprisonment of either description for a term which may extend to three years, and shall also be liable to fine.