Whoever, fraudulently or with intent that fraud may be committed, is in possession of counterfeit coin, which is a counterfeit of Indian coin, having known at the time when he became possessed of it that it was counterfeit, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.
IPC Section 243: Simplified Explanation
IPC Section 243 pertains to the offence of possessing counterfeit coins by a person who knew they were counterfeit at the time they came into possession of them. This section aims to penalize those who not only possess counterfeit currency but also intend to use it fraudulently. The section is part of the broader framework to prevent counterfeiting and to protect the economic interests of the country.
Under this section, it is necessary to prove that the person in possession of the counterfeit coins had knowledge of their counterfeit nature when they obtained them. The law targets individuals who intentionally hold and potentially circulate counterfeit money, thereby attempting to safeguard the currency’s authenticity.
Is IPC Section 243 bailable?
No, IPC Section 243 is a non-bailable offence. This means that the accused does not have the right to be released on bail as a matter of course, and bail is granted at the discretion of the court based on the specifics of the case.
IPC Section 243 Punishment
The punishment for an offence under IPC Section 243 is imprisonment of either description (simple or rigorous) for a term which may extend to seven years, along with a fine. This stringent punishment reflects the severe nature of the offence and the potential harm it can cause to the economy.
Example of IPC Section 243
Consider a scenario involving a woman named Meera. Meera works as a cashier at a local grocery store. One day, she receives a batch of coins from a customer and quickly realizes that some of the coins are counterfeit due to their unusual appearance and weight. Despite knowing they are fake, Meera decides to keep the coins and later tries to use them to pay a supplier. The supplier, noticing the counterfeit coins, reports the incident to the authorities. An investigation is conducted, and it is discovered that Meera knew the coins were counterfeit when she received them. Consequently, Meera is charged under IPC Section 243 for possessing counterfeit coins with the knowledge of their counterfeit nature, and she faces the prescribed punishment for this severe offence.
