Indian Penal Code, 1860

Possession of forged or counterfeit currency-notes or bank-notes.—

Section

489C

Punishment

Imprisonment up to Seven Year(s) + Fine

Cognizable

Cognizable

Bailable

Non-bailable

Compoundable

Non-Compoundable (Refer to CrPC 320 for exceptions)

Trial Court

Court of Session

Bare Act Text

489C. Possession of forged or counterfeit currency-notes or bank-notes.— Whoever has in his possession any forged or counterfeit currency-note or bank-note, knowing or having reason to believe the same to be forged or counterfeit and intending to use the same as genuine or that it may be used as genuine, shall be punished with imprisonment of either description for a term which may extend to seven years, or with fine, or with both.
According to the official bare act, this legal offense is defined as: 489C. Possession of forged or counterfeit currency-notes or bank-notes.— Whoever has in his possession any forged or counterfeit currency-note or bank-note, knowing or having reason to believe the same to be forged or counterfeit and intending to use the same as genuine or that it may be used as genuine, shall be punished with imprisonment of either description for a term which may extend to seven years, or with fine, or with both.
The punishment for this specific offense is outlined under the law as: Imprisonment up to Seven Year(s) + Fine
Under the Indian Penal Code, this specific offense is classified as a Non-bailable offense.
The legal status regarding police arrest without a warrant is that this offense isCognizable.
Cases pertaining to this specific IPC section are triable by the Court of Session.
The compoundable nature of this offense, meaning whether the parties can settle it out of court, is classified as: Non-Compoundable (Refer to CrPC 320 for exceptions).

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