OF OFFENCES AGAINST PROPERTY
Of Fraudulent Deeds and Dispositions of Property
Dishonest or fraudulent execution of deed of transfer containing false statement of consideration
423. Whoever dishonestly or fraudulently signs, executes or becomes a party to any deed or instrument which purports to transfer or subject to any charge any property, or any interest therein, and which contains any false statement relating to the consideration for such transfer or charge, or relating to the person or persons for whose use or benefit it is really intended to operate, 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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Ministry of Law, Justice and Parliamentary Affairs