Indian Penal Code (IPC) S. 421. Dishonest or fraudulent removal or concealment of property to prevent distribution among creditors.
421. 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 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.
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More details about this Section |
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Cognizable or not? |
Non-cognizable |
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Whether Bailable? |
Bailable |
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Compoundable or not? |
Compoundable by creditors who are affected thereby |
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Triable by whom? |
Any Magistrate |
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