Definition of IPC 420:
Cheating and dishonestly inducing delivery of property.
Classification :
This section is Non-bailable, Cognizable and Compoundable.
Triable By :
Magistrate of the first class.
Punishment :
Imprisonment for 7 years and fine.
Best Book on The IPC
When a huge sum of money transfered thru’ NEFT and the firm did not supply any article nor repaid the money.
How can we get the money back
First you need to submit FIR to the Police station. Simultaneosly, you can approach the Consumer Forum as well.