Indian Penal Code
IPC 242 is now BNS 180.
Possession of counterfeit coin by person who knew it to be counterfeit when he became possessed thereof · BNS 180 brings it together with IPC 243, 252, 253, 259 and 489C.
Merged
44% of the old wording kept
Old · IPC 1860 · Ch. XII
s. 242
Possession of counterfeit coin by person who knew it to be counterfeit when he became possessed thereof
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.
Text from the official India Code PDF
New · BNS 2023 · Ch. X
s. 180
Possession of forged or counterfeit coin, Government stamp, currency-notes or bank-notes.
Whoever has in his possession any forged or counterfeit coin, stamp, 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.
Explanation.—If a person establishes the possession of the forged or counterfeit coin, stamp, currency-note or bank-note to be from a lawful source, it shall not constitute an offence under this section.
Text from India Code