SECTION 421 IPC - Indian Penal Code - Dishonest or fraudulent removal or concealment of property to prevent distribution among creditors


Description

Whoever dishonestly or fraudulently removes, conceals or delivers to any person, or transfers 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.

Offence : Fraudulent removal or concealment of property etc., to prevent distribution among creditors


Punishment : 2 Years or Fine or Both


Cognizance : Non-Cognizable


Bail : Bailable


Triable : Any Magistrate






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