IPC Section 421

Indian Penal Code

US
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IPCChapter XVII

S. 421

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.

Classification u/schedule 1 CrPC

Offence

Punishment

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

2 Years or Fine or Both

Cognizance

Bail

Triable By

Non-Cognizable

Bailable

Any Magistrate

Composition u/s 320 CrPC

Offence is Compoundable by

The creditors who are affected thereby

By Raman Devgan
Updated: 31 Oct 2022
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