Section 83A: Dishonest removal of pledged goods

5[83A. Dishonest removal of pledged goods.-- Whoever, dishonestly removes or disposes of any goods pledged with any banking company as security for the payment of any debt, loan, finance or other similar facility or removes or disposes of any such goods without the prior approval in writing of the banking company, shall be punishable with imprisonment for a term which may extend to three years, and shall also be liable to fine which may extend to the value of the goods removed or disposed of.]

Effective date: 1962-06-07

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