Yes! forfeiture of property under IPC is a punishable offence. Forfeiture is the loss of any assets, money, or property without receiving any kind of payment or other compensation. Generally, a forfeiture happens when payback requirements outlined in a contract are not met. It can additionally be applied as a fine for engaging in unethical commercial practices. The party who has their property forfeited should give up ownership of it.
Get expert legal assistance service for property document verification from NoBrokerIs there any punishment for forfeiture of property in India?
Forfeiture of advance against property is covered under Section 53 of the IPC 1860. The government seizes all of the guilty person's assets as part of this punishment. The item or property that has been seized can either be mobile or immobile. Property forfeiture is a sanction for violations of sections 126 and 127.
- Fine:
It resembles a form of financial punishment. As punishment for the offence, the criminal is required to pay a fine. If a fine is not paid, the court might order an individual to serve time in prison, as stated in section 64 of the Indian Penal Code.
- Solitary Confinement:
Solitary confinement refers to isolating the prisoner and preventing any kind of interaction with the outside world. The Indian Penal Code's Section 73 applies here.
I hope this suffices your query about the punishment related to the forfeiture of property. I hope this helps:)
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Is there any Punishment for Forfeiture of Property in India?
Karishma
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2023-04-26T16:54:05+00:00 2023-04-26T16:59:22+00:00Comment
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