Bailabel Type : bailable

Description

IPC Section 418 addresses cheating committed by an individual who is aware that their actions could lead to wrongful loss to a person whose interests they are legally or contractually bound to protect.

Description:

1. Cheating with Knowledge of Wrongful Loss:

   • This section covers situations where a person, in a position of trust or responsibility, cheats another person while knowing that their deceit will likely result in wrongful loss for the victim.
   • Example: A financial advisor deceives a client into investing in a fraudulent scheme, knowing that it will lead to the client's financial loss.

2. Legal or Contractual Duty to Protect Interests:

   • The offender must be in a position where they have a legal or contractual duty to protect the interests of the victim, but they cheat the victim despite knowing the consequences.
   • This could include individuals in fiduciary roles such as lawyers, financial advisors, guardians, or corporate officers.

3. Intention:

   • The key element is that the offender is aware of the consequences of their actions and knows that their deceit is likely to cause wrongful loss to someone whose interests they are meant to safeguard.

Punishment

Imprisonment:

• The offense is punishable with imprisonment which may extend to 3 years.

Fine:

• The offender may also be subject to a fine, or

Both:

• Both imprisonment and fine may be imposed depending on the severity and circumstances of the offense.