Whoever makes, or performs any part of the process of making, or buys of sells or disposes of, or has in his possession, any machinery, instrument of material for the purpose of being used, or knowing or having reason to believe that it is intended to be used, for forging or counterfeiting any currency-note or bank-note, shall be punished with 1 imprisonment for life, or with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.
IPC Section 489D: Simplified Explanation
IPC Section 489D of the Indian Penal Code (IPC) deals with the offence of making or possessing any instrument or material to counterfeit currency notes or bank notes. This section targets individuals who create or possess instruments, tools, or materials intended for use in the counterfeiting of currency notes or bank notes. The focus here is on the preparatory activities that facilitate the production of counterfeit money, aiming to curb such activities before counterfeiting occurs.
This provision aims to dismantle the infrastructure used for counterfeiting operations, thereby protecting the economy and maintaining the integrity of the national currency. By targeting the tools and materials used in these illegal processes, it seeks to prevent not just the circulation but also the production of counterfeit currency.
Is IPC Section 489D Bailable?
IPC Section 489D is non-bailable. This status means that the accused does not have the automatic right to bail. The court will assess factors such as the gravity of the offence, the accused’s potential threat to society, and other relevant circumstances before deciding on bail.
IPC Section 489D Punishment
The Punishment for making or possessing any instrument or material for counterfeiting currency notes or bank notes under IPC Section 489D is imprisonment for a term extending to seven years and liable to a fine. This severe penalty reflects the critical nature of the offence and its potential to cause widespread harm to the financial system.
Example of IPC Section 489D
A real-life example of an offence under IPC Section 489D could involve a scenario where law enforcement raids a hidden workshop and discovers a sophisticated printing setup designed to produce counterfeit banknotes. Suppose the police find printing plates, special inks, and paper similar to that used in official currency production, along with digital templates for various denominations. The individuals responsible for this operation would be prosecuted under IPC Section 489D for possessing the instruments and materials intended for the counterfeiting of currency, addressing the significant risk this poses to the economic stability and security of the country.
