IPC 423 vs BNS 423
● Retained in BNSDishonest or fraudulent execution of deed of transfer containing false statement of consideration
Section 423 of the Indian Penal Code, 1860, deals with situations where a person dishonestly or fraudulently executes a deed of transfer of property that contains a false statement of consideration. In simple terms, this section applies when someone prepares or executes a property transfer document that falsely mentions the amount or consideration involved, with intent to deceive.
Key points:
-
Involves execution of a transfer deed with false statement of consideration.
-
Punishment: Imprisonment up to 2 years, or fine, or both.
-
Ensures fairness and honesty in property-related transactions.
For example, if a person executes a sale deed for land, falsely stating a lower amount of consideration to cheat creditors or evade tax, it constitutes an offence under IPC 423. This section safeguards creditors, buyers, and authorities from fraudulent property transfers by enforcing honesty in legal documents.
Dishonest or fraudulent execution of deed of transfer containing false statement of consideration
Section 423 of the Bharatiya Nyaya Sanhita, 2023, continues the provision of IPC 423 by punishing individuals who dishonestly execute a deed of transfer of property with false statements of consideration. The law aims to uphold the integrity of property dealings and prevent fraud.
Key points:
-
Applies to false or fraudulent statements in property transfer deeds.
-
Punishment: Imprisonment up to 2 years, or fine, or both, same as IPC 423.
-
Protects against fraudulent manipulation in property transactions.
For instance, if a debtor executes a transfer deed undervaluing property to shield assets from creditors, it falls under BNS 423. This provision maintains continuity with IPC 423, ensuring that property dealings remain transparent and legally enforceable.
What changed?
This provision was carried over to the Bharatiya Nyaya Sanhita with substantially the same wording — the section was renumbered from IPC IPC 423 to BNS BNS 423.