- Cheating with knowledge that wrongful loss may ensue to person whose interest offender is bound to protect —
Whoever cheats with the knowledge that he is likely thereby to cause wrongful loss to a person whose interest in the transaction to which the cheating relates, he was bound, either by law, or by a legal contract, to protect, shall be punished with imprisonment of either description for a term which may extend to three years, or with fine, or with both.
CLASSIFICATION OF OFFENCE
Punishment—Imprisonment for 3 years, or fine, or both—Non-cognizable— Bailable—Triable by any Magistrate—Compoundable by the person cheated with the permission of the court.
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