SECTION 423 IPC - Indian Penal Code - Dishonest or fraudulent execution of deed of transfer containing false statement of consideration

Last Updated: 01 Jun, 2024
By Advocate Chikirsha Mohanty

Table of Contents
  1. IPC 423 in Simple Words
  2. IPC Section 423 related FAQs
Whoever dishonestly or fraudulently signs, executes or becomes a party to any deed or instrument which purports to transfer or subject to any charge any property, or any interest therein, and which contains any false statement relating to the consideration for such transfer or charge, or relating to the person or persons for whose use or benefit it is really intended to operate, shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.

IPC 423 in Simple Words

If someone dishonestly signs or participates in a document that transfers or charges property, and that document contains false information about the consideration or the intended beneficiaries, they can be punished with imprisonment up to two years, or fined, or both.

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Offence : Fraudulent execution of deed of transfer containing a false statement of consideration

Punishment : 2 Years or Fine or Both

Cognizance : Non-Cognizable

Bail : Bailable

Triable : Any Magistrate

IPC Section 423: False statement of consideration in a transfer deed executed dishonestly or fraudulently

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Frequently Asked Questions

What is Section 423 of the Act?

Insolvency Act (IA) 1986 Section 423 allows the avoidance transactions that are designed to defraud creditor. 19 Sept 2023

What is Section 423?

Indian Penal Code, Section 423: False statement of consideration in a fraudulent or dishonest execution of a deed of transfer.

What is Section 424 of the IPC?

Anyone who dishonestly, fraudulently, conceals or removes property belonging to him or another person, assists dishonestly, fraudulently, in concealing or removing such property, or dishonestly, fraudulently, releases any claim or demand that he has a right to, will be punished by imprisonment for either a period of time.

What is Section 425 of the IPC?

Mischief is committed by anyone who, with the intent to cause or knowing that they are likely to cause, harm to others or themselves, destroys property, or changes the value or utility of property, or damages it in any way.