Section 242 IPC: Possession of Counterfeit Coin with Prior Knowledge
Section 242 of the Indian Penal Code, 1860 punished fraudulent possession of counterfeit coin where the person knew the coin was counterfeit at the time possession began.
Section 242 IPC - Statutory Provision
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.
Meaning of Section 242 IPC
Section 242 targeted knowing and fraudulent possession of counterfeit coin. Mere physical possession was not, by itself, sufficient under the wording of this provision. The possession had to be fraudulent or accompanied by an intent that fraud may be committed, and the accused had to know that the coin was counterfeit when becoming possessed of it.
Essential Ingredients
- The accused must be in possession of a coin.
- The coin must be counterfeit.
- The accused must have known that the coin was counterfeit at the time the accused became possessed of it.
- The possession must be fraudulent or with intent that fraud may be committed.
Punishment and Classification Before BNS
| Offence | Fraudulent possession of counterfeit coin by a person who knew it was counterfeit when possession began |
|---|---|
| Punishment | Imprisonment of either description for a term up to 3 years and fine |
| Cognizable | Yes |
| Bail | Non-bailable |
| Triable by | Magistrate of the first class |
| Compoundable | No |
Knowledge When Possession Began
The timing of knowledge was an express ingredient of Section 242. The accused had to know that the coin was counterfeit at the time it came into the accused's possession. This distinguishes the provision from situations where a person innocently receives a coin and discovers its counterfeit character only later.
Fraudulent Possession or Intent That Fraud May Be Committed
Section 242 expressly required possession to be fraudulent or accompanied by intent that fraud may be committed. Therefore, proof of a counterfeit coin and physical custody alone did not reproduce all the statutory ingredients. The required state of mind concerning both the counterfeit character and fraudulent purpose remained material.
Section 241 and Section 242 IPC - Difference
Section 241 dealt with a person who did not know a coin was counterfeit when first taking possession, but later learned that fact and delivered or attempted to deliver it as genuine. Section 242 instead required knowledge of the counterfeit character when possession began and punished fraudulent possession itself, without requiring proof of a subsequent delivery.
Section 242 and Section 243 IPC - Difference
Section 242 applied to counterfeit coin generally and prescribed imprisonment up to three years plus fine. Section 243 specifically addressed counterfeit Indian coin possessed with the corresponding prior knowledge and fraudulent intent, and prescribed a more severe punishment.
Related IPC Provisions
Section 242 formed part of Chapter XII of the IPC concerning offences relating to coin and Government stamps. Section 230 defined coin; Sections 231 and 232 dealt with counterfeiting coin and Indian coin; Sections 239 to 241 dealt with specified forms of delivery of counterfeit coin; Section 243 addressed possession of counterfeit Indian coin; and Sections 244 and 245 dealt with offences connected with mints and coining instruments.
Official Legal Source
For authoritative statutory material and the procedural law applicable immediately before BNS implementation, consult the Indian Penal Code, 1860 and the First Schedule to the Code of Criminal Procedure, 1973 through India Code.