Forgery of valuable security, will, etc. Under the Indian Penal Code
Under Section 467 in The Indian Penal Code, Whoever forges a document which purports to be valuable security or a will, or an authority to adopt a son, or which purports to give authority to any person to make or transfer any valuable security, or to receive the principal, interest or dividends thereon, or to receive or deliver any money, movable property, or valuable security, or any document purporting to be an acquittance or receipt acknowledging the payment of money, or an acquittance or receipt for the delivery of any movable property or valuable security, shall be punished with imprisonment for life, or with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.
The offence under this (section 467) is Non-cognizable and non-bailable (this only signifies the seriousness of this particular section) and triable by Judicial Magistrate First Class.
The offence described under section 467 Indian Penal Code is an aggravated form of the offences dealt under section 466 IPC. According to section 466 of the Indian penal code, Whoever forges a document, purporting to be a record or proceeding of or in a Court of Justice, or a register of birth, baptism, marriage or burial, or a register kept by a public servant as such, or a certificate or document purporting to be made by a public servant in his official capacity, or an authority to institute or defend a suit, or to take any proceedings therein, or to confess judgment, or a power of attorney, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.
.Keeping in mind the importance of the documents used in our day to day lives, sec 467 Indian Penal Code classifies a set of documents as the most valuable and also prescribes punishment to the person who tries to forge a person with valuable security or any valuable document.
According to section 467 IPC, this section not only provides punishment for forgery of not only a document purporting to be valuable security but also of any document which tends to give authority to any other person on your behalf to receive or deliver money or other documents or as the case may be.