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21. The learned counsel for the appellant submitted that, apart from the affidavit of respondent no. 2, no case under section 420 IPC is made out against the appellant. The primary requirement to make out an offence of cheating under section 415 punishable under section 420 IPC is dishonest/fraudulent intention at the time of inducement is made. In order to appreciate the controversy in proper perspective, we deem it appropriate to reproduce section 415 IPC. The same reads as under:

"415. Cheating.- Whoever, by deceiving any person, fraudulently or dishonestly induces the person so deceived to deliver any property to any person, or to consent that any person shall retain any property, or intentionally induces the person so deceived to do or omit to do anything which he would not do or omit if he were not so deceived, and which act or omission causes or is likely to cause damage or harm to that person in body, mind, reputation or property, is said to "cheat"."

22. Two main ingredients of section 420 IPC are dishonest and fraudulent intention. The Indian Penal Code has defined the word "dishonestly" in section 24 IPC. Section 24 IPC reads as under:

"24. Dishonestly - Whoever does anything with the intention of causing wrongful gain to one person or wrongful loss to another person, is said to do that thing "dishonestly"."

23. The word "fraudulently" has also been defined in section 25 IPC. Section 25 IPC reads as under:

"25. Fraudulently - A person is said to do a thing fraudulently if he does that thing with intent to defraud but not otherwise."

24. In the instant case, according to the appellant there has been no dishonest intention nor have any allegations as to the extent of such a dishonest intention been made in the complaint and FIR. In fact, no material whatsoever has been produced by the respondent no.2 which would indicate any such dishonest/fraudulent intention at any stage leave alone at the stage of the alleged inducement of inviting depositors to deposit money with the company. Furthermore, the complaint against the Chairman and the Managing Director itself has been quashed by an order of the High Court for the very reason that such dishonest/fraudulent intention was not made out in this case. The judgment of the High Court acquired finality before no appeal was preferred before this Court.