The IPC 1860 was replaced by the BNS 2023 (in force 2024-07-01); no verified section mapping on file for Section 418 — confirm the corresponding provision (savings: Section 358, BNS 2023).
Whoever 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 found, either by law, or by a legal contract, to protect, shall be punished with imprisonment of either description for a term which may extend to three years, or with fine, or with both. CLASSIFICATION OF OFFENCE Punishment--Imprisonment for 3 years, or fine, or both--Non-cognizable--Bailable--Triable by any Magistrate--Compoundable by the person cheated with the permission of the Court.