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Dar Mohsin (Advocate)     04 March 2018

What does valuable security means ?

Dear friends.......I need your help to know that whether a fake certificate is a valuable security or not within the meaning of section 30 IPC.



Learning

 3 Replies

LIYANA SHAJI   09 June 2020

Hello,

Valuable security under section 30 IPC denotes a document which is, or purports to be, a document whereby any legal right is created, extended, transferred, restricted, extinguished or released, or where by any person acknowledges that he lies under legal liability, or has not a certain legal right.

A fake certificate doesnt come under this definition.

Hope this answers your query.

Regards,

Liyana Shaji

Nirali Nayak   25 June 2021

Hello sir, greetings of the day.
As per your query, no fake certificates are not considered as valuable securities under Section 30 of Indian Penal Code. Section 30 of IPC defines valuable security as a document which is, or purports to be, a document whereby any legal right is created, extended, transferred, restricted, extinguished or released, under the acknowledgement of any person that he lies under legal liability, or has not a certain legal right.”
In the judgement of Ashwani Lochan Aggarwal vs State on 8 December, 2006, the Supreme Court held that a forged document or certificate cannot come under the purview of Section 30 of IPC. 
Section 467of the IPC deals with the forgery of valuable security and its penalty. It is defined as "whoever forges a document which purports to be a valuable security or a will, or transfer any valuable security, or to receive or deliver any money, movable property, or valuable security, or any document purporting to be an acquaintance or receipt for the delivery of any movable property or valuable security, shall be punished with imprisonment for life, or with imprisonment of either descripttion for a term which may extend to ten years, and shall also be liable to fine".
Hope this answers your query.
Regards
Nirali Nayak
Law Student

Harshita Jain   09 July 2021

Hello,
So,to answer your question, first it is important to understand Section 30 of Indian Penal Code. According to this section, valuable security is any document through which any legal right is created,extended, transferred,restricted,extinguished or released or where by any person acknowledges that he is under legal liability or has not a certain legal right.
A case came to the court(Ashwani Lochan Aggarwal vs State  8 December, 2006) that raised similar question that whether false or forged document or certificate should be covered under Section 30 of the Indian Penal Code or not.
The court in this case held that the false document or certificate is not to be covered under the said section but rather it should be previewed under section 467 of Indian Penal Code which mentions that  "Whoever forges a document which purports to be a 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 descripttion for a term which may extend to ten years, and shall also be liable to fine".
Thus, according to this case, NO ,fake certificate are not a part of valuable security.

Regards,
Harsh*ta Jain


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