BNS Section 295 - Possession of Counterfeit Currency
Whoever has in his possession any currency note or bank note or coin, knowing or having reason to believe the same to be counterfeit, and intending that the same shall fraudulently or dishonestly be used as genuine, shall be punished.
Non-bailable, Cognizable
Official Text
“Whoever has in his possession any currency note or bank note or coin, knowing or having reason to believe the same to be counterfeit, and intending that the same shall fraudulently or dishonestly be used as genuine, shall be punished.”
Legal Analysis
Elements to Prove:
- Possession of counterfeit currency.
- Knowing it to be counterfeit.
- Intending fraudulent use.
Potential Defenses:
- No possession.
- Unaware of counterfeit nature.
- No intent to defraud.
Practical Examples
What Constitutes the Offense:
Keeping fake money, possessing counterfeit coins, holding false currency notes for fraudulent use.
What Doesn't Constitute:
Innocent possession, unaware of counterfeit nature, or lawful ownership.
Punishment
Imprisonment up to 7 years, and Fine