Section 262
Prohibition Of Bringing Prohibited Currency Into Use
(1) No
person shall bring into use, exchange or possess a currency in use but
circulation of which has been banned by order of the competent
authority under law, in violation of such order.
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(2) A person who commits, or causes to be committed, the
offence referred to in sub-section (1) shall be liable to a sentence of
imprisonment for a term not exceeding one year or a fine not
exceeding ten thousand rupees or both the sentences, and the
currency so brought into use, exchanged or possessed shall also be
forfeited.