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Sec 420- Cheating and dishonestly inducing delivery of property

  Section  420 :- Cheating and dishonestly inducing delivery of property 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. Classification u/schedule 1 CrPC Offence Punishment Cheating and there by dishonestly inducing delivery of property, or the making, alteration or destruction of a valuable security 7 Years + Fine Cognizance Bail Triable By Cognizable Non-Bailable Magistrate First Class Composition u/s 320 CrPC Offence is Compoundable by The person cheated, with the permission of the Court
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SEC 138 NI ACT 1881

  A cheque is a widely used method of payment and post-dated cheques are frequently used in various transactions in business life. Post-dated cheques are given to provide a certain accommodation to the drawer of the cheque. Therefore, it becomes necessary to ensure that the drawer of the cheque does not abuse the accommodation given to him. The   Negotiable Instruments Act, 1881   (" Act ") deals with negotiable instruments, such as promissory notes, bills of exchange, cheques etc. Chapter XVII containing Sections 138 to 142 was introduced with the aim of inculcating confidence in the efficacy of banking operations and giving credibility to negotiable instruments employed in business transactions. If a party issues a cheque as a mode of deferred payment and the payee of the cheque accepts the sameon the faith that he will get his payment on due date, then he should not suffer on account of non-payment. The penal provisions contained in Sections 138 to 142 of the Act have ...
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