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

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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.

1.If an offence is cognizable, police has the authority to arrest the accused without a warrant and to start an investigation with or without the permission of a court. Otherwise police does not have the authority to arrest the accused without a warrant and an investigation cannot be initiated without a court order.

2.If an offience is bailable, police has the authority to release the accused on bail on getting the defined surety amount along with a duly filled bail bond at the concerned police station. Otherwise arrested person has to apply for bail before a magistrate or court

3. If an offence is compoundable, a compromise can be done between the accused and the victim, and a trial can be avoided. Otherwise, No compromise is allowed between the accused and the victim except under certain situations, where the High Court or the Supreme Court have the authority for quashing a matter.

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