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'A' finds a Government promissory note belonging to 'Z', bearing a blank endorsement. 'A', knowing that…

IPC section 403 Explanation 1 expressly treats dishonest misappropriation for a time as misappropriation. Its promissory-note illustration matches these facts: knowingly…

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'A' finds a Government promissory note belonging to 'Z', bearing a blank endorsement. 'A', knowing that the note belongs to 'Z', pledges it with a banker as a security for a loan, intending at a future time to restore it to 'Z'. 'A' has committed an offence of:

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Correct answer C

IPC section 403 Explanation 1 expressly treats dishonest misappropriation for a time as misappropriation. Its promissory-note illustration matches these facts: knowingly pledging Z’s note for A’s loan is dishonest conversion even if A intends eventually to restore it. There is no entrustment to A to establish criminal breach of trust.

Current law: BNS section 314 retains the temporary-misappropriation explanation and this illustration, while requiring six months to two years imprisonment and fine. IPC allowed up to two years, or fine, or both. Earlier conduct is saved by BNS section 358.

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