INDIAN KANOON SECTION 403 IPC - Indian Penal Code - Dishonest misappropriation of property

Description

Whoever dishonestly misappropriates or converts to his own use any movable property, shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.

Applicable Offences

Dishonest misappropriation of movable property, or converting it to one’s own use

Punishment - 2 Years or Fine or Both

This is a Bailable, Non-Cognizable offence and triable by Any Magistrate

This offence is compoundable by The owner of the property misappropriated .

1. If an offence is cognizable, police has the authority to arrest the accused without a warrant and to start an investigation with or without the permission of a court. Otherwise police does not have the authority to arrest the accused without a warrant and an investigation cannot be initiated without a court order.

2. If an offience is bailable, police has the authority to release the accused on bail on getting the defined surety amount along with a duly filled bail bond at the concerned police station. Otherwise arrested person has to apply for bail before a magistrate or court

3. If an offence is compoundable, a compromise can be done between the accused and the victim, and a trial can be avoided. Otherwise, No compromise is allowed between the accused and the victim except under certain situations, where the High Court or the Supreme Court have the authority for quashing a matter.