What is Dishonest or fraudulent removal or concealment of property to prevent distribution among creditors? What is Dishonestly or fraudulently preventing debt being available for creditors? What is Dishonest or fraudulent execution of deed of transfer containing false statement of consideration? What is Dishonest or fraudulent removal or concealment of property? Section 421, 422, 423 and 424 of Indian Penal Code 1860

Dishonest or fraudulent removal, concealment, transfer etc and its punishment are defined under Section 421, 422, 423 and 424 of Indian Penal Code 1860. Provisions under these sections are:

 

 

 

 

Section 421 of Indian Penal Code. "Dishonest or fraudulent removal or concealment of property to prevent distribution among creditors"

Whoever dishonestly or fraudulently removes, conceals or delivers to any person, or transfer or causes to be transferred to any person, without adequate consideration, any property, intending thereby to prevent, or knowing it to be likely that he will thereby prevent, the distribution of that property according to law among his creditors or the creditors of any other person, shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.

 

Section 422 of Indian Penal Code. "Dishonestly or fraudulently preventing debt being available for creditors"

Whoever dishonestly or fraudulently prevents any debt or demand due to himself or to any other person from being made available according to law for payment of his debts or the debts of such other person, shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.

 

Section 423 of Indian Penal Code. "Dishonest or fraudulent execution of deed of transfer containing false statement of consideration"Whoever dishonestly or fraudulently signs, executes or becomes a party to any deed or instrument which purports to transfer or subject to any charge any property, or any interest there in, and which contains any false statement relating to the consideration for such transfer or charge, or relating to the person or persons for whose use or benefit it is really intended to operate, shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.

 

Section 424 of Indian Penal Code. "Dishonest or fraudulent removal or concealment of property"

Whoever dishonestly or fraudulently conceals or removes any property of himself or any other person, or dishonestly or fraudulently assists in the concealment or removal thereof, or dishonestly releases any demand or claim to which he is entitled, shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.

 

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