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Where there is delivery or destruction of any property
or alteration or destruction of any valuable security resulting from the act of
the person deceiving, then this section comes into force. It must be proved that
the complainant parted with his property acting on a representation, which was
false to the knowledge of the accused, and the accused, had an dishonest intention
from the outset. Under this section property does not necessarily mean having
money value or market value. Even if the thing has no money value in the hands
of the person cheated, but becomes a thing of value in the hand of person who
may get possession of it, as a result of the cheating practiced by him, then also
it would fall under the meaning of the term 'property'.
PUNISHMENT
Whoever
cheats and dishonestly induces the delivery of property shall be punished with
an imprisonment, which may extend to seven years, and shall also be liable to
fine.
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