IPC · Chapter XII · Of offences relating to coin and Government stamps
IPC section 242, “Possession of counterfeit coin by person who knew it to be counterfeit when he became possessed thereof”, is now BNS section 180 of the Bharatiya Nyaya Sanhita, 2023, in force from 1 July 2024.
Merged into BNS section 180, which covers possessing any forged or counterfeit coin, stamp, currency-note or bank-note, knowing it to be so and intending to use it as genuine. Punishment: up to seven years, or fine, or both (IPC 242: up to three years and fine). New Explanation: possession shown to come from a lawful source is no offence.
Indian Penal Code, 1860
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.
Bharatiya Nyaya Sanhita, 2023
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.
The texts are India Code’s. The amendment markers and footnotes of the official print are left out, so the old section reads as it stood when it was repealed; State amendments are not shown. The PDFs linked below carry the full history.
The BNS repealed the IPC from 1 July 2024 (section 358(1)). The repeal does not reach back: under section 358(2), penalties and punishments incurred for offences committed against the IPC still stand, and proceedings for them may be started, continued and enforced as if the IPC had not been repealed. An act done before 1 July 2024 is therefore dealt with under the IPC section; an act done on or after that date, under the BNS.
