Legal Provisions of Section 422 of Indian Penal Code, 1860.
Dishonestly or fraudulently preventing debt being available for creditors:
This section punishes dishonestly or fraudulently preventing debt etc. being available for creditors. It says that whoever either dishonestly or fraudulently prevents any debt or demand due to himself or to any other person from being made available according to law for payment of either his debts or the debts of such other person, shall be punished with simple or rigorous imprisonment for a term extending up to two years, or with fine, or with both.
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Dishonest or fraudulent intention on the part of the offender must be proved. With such intention he must prevent any debt or demand either due to himself or to any other person from being made available according to law for payment of either his debts or the debts of such other person.
The offence under this section is non-cognizable, bailable and compoundable when permitted by the court trying the case, and is triable by any magistrate.