MEANING OF 420 or IPC SECTION 420

Section 420. Cheating and dishonestly inducing delivery of property

Whoever cheats and thereby dishonestly induces the person deceived 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 OF OFFENCE

Punishment—

Imprisonment for 7 years 

fine—Cognizable—Non-bail­able—Triable by Magistrate of the first class—Compoundable by the person cheated with the permission of the court.