Indian Penal Code, 1860
Section 242
repealedPossession of counterfeit coin by person who knew it to be counterfeit when he became possessed thereof
Whoever, fraudulently or with intent that fraud may be committed, is in possession of counterfeit coin, having known at the time when he became possessed thereof that such coin was counterfeit, shall be punished with imprisonment of either description for a term which may extend to three years, and shall also be liable to fine.
Why this exists
Simply holding counterfeit coin isn't automatically a crime under this section — the law requires that the person knew it was fake right from when they acquired it, and that they possess it fraudulently or with intent that fraud be committed. This targets people knowingly stockpiling or holding fake coin for dishonest future use, distinguishing them from innocent holders who don't know or intend any wrongdoing.