SECTION 418 IPC : Cheating with knowledge that a person whose interests the cheater is obligated to defend could suffer unlawful loss.—The punishment for cheating is either imprisonment of either description for a term that may extend to three years, fine, or both. It also includes the possibility of both. The person who cheats with the knowledge that he is likely to thereby 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, is punished.