New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Under Section 320(1) of Cr.PC for fraudulent removal or concealment of property etc. to prevent distribution among creditors, which section of IPC is applicable?

    A Section 421 Correct Answer Incorrect Answer
    B Section 424 Correct Answer Incorrect Answer
    C Section 425 Correct Answer Incorrect Answer
    D Section 415 Correct Answer Incorrect Answer

    Solution

    Section 421, IPC. Dishonest or fraudulent removal or concealment of property to prevent distribution among creditors.—Whoever dishonestly or fraudulently removes, conceals or delivers to any person, or transfer 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 CLASSIFICATION OF OFFENCE Punishment—Imprisonment for 2 years, or fine, or both—Non-cogniz­able—Bailable—Triable by any Magistrate—Compoundable by the credi­tor who are affected thereby with the permission of the court.

    Practice Next