Provision

Whoever dishonestly receives or retains any stolen property, the possession whereof he knows or has reason to believe to have been transferred by the commission of dacoity, or dishonestly receives from a person, whom he knows or has reason to believe to belong or to have belonged to a gang of dacoits, property which he knows or has reason to believe to have been stolen, shall be punished with[imprisonment for life], or with rigorous imprisonment for a term which may extend to ten years, and shall also be liable to fine.


Simply put

The section states that whoever either dishonestly receives or dishonestly retains any stolen property with the knowledge that the same is stolen property or having reason to believe that the same is stolen property, shall be punished with simple or rigorous imprisonment for a term extending up to three years, or with fine, or with both.



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