Whoever cheats and thereby dishonestly induces the person deceived to deliver any property to any person, or to make, alter or destroy the whole or any part of a valuable security, or anything which is signed or sealed, and which is capable of being converted into a valuable security, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.
Imprisonment: The person can be sentenced to imprisonment of either description (simple or rigorous), which may extend to 7 years.
Fine: Additionally, the accused may also be liable to a fine.
