Vir Prakash Sharma Vs Anil Kumar Agarwal (2007) 7 SCC 373

Hon'ble Supreme Court observed,“The ingredients of Section 420 of the Penal Code are as follows: (i) Deception of any persons;
(ii) Fraudulently or dishonestly inducing any person to deliver any property; or
(iii) To consent that any person shall retain any property and finally intentionally inducing that person to do or omit to do anything which he would not do or omit. No act of inducement on the part of the appellant has been alleged by the respondent. No allegation has been made that he had an intention to cheat the respondent from the very inception.”