418. Cheating with knowledge that wrongful loss may be thereby caused to a person whose interest the offender is bound to protect
Feedback & supportWhoever 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 for a term which may extend to 5 years, or with fine, or with both.
loss
“loss” includes a loss by not getting what one might get, as well as a loss by parting with what one has. For the purposes of section 473B and subject to subsections (2) and (4), an act or omission intended to be induced is to a person’s prejudice if, and only if, it is one which, if it occurs, will —(a)result in his permanent or temporary loss of property;(b)result in his being deprived of an opportunity to earn remuneration or greater remuneration;(c)result in his being deprived of an opportunity to gain a financial advantage otherwise than by way of remuneration;(d)result in somebody being given an opportunity to earn remuneration or greater remuneration from him;(e)result in somebody being given an opportunity to gain a financial advantage from him otherwise than by way of remuneration; or(f)be the result of his having accepted a false instrument as genuine in connection with his performance of any duty. For the purpose of this section, an act which a person has an enforceable duty to do and an omission to do an act which a person is not entitled to do shall be disregarded. The reference in section 473B to inducing a person (B) to accept a false instrument as genuine includes a reference to inducing a machine to respond to an instrument as if it were a genuine instrument. Where subsection (3) applies, the act or omission intended to be induced by the machine responding to the instrument shall be treated as an act or omission to a person’s prejudice. In subsection (1)(a),