$1000 dollars found in second hand Coat:

N.K.Assumi (Querist) 29 March 2009 This query is : Resolved
A chowkidar of a School bought a second hand coat and found $1000 dollars in the coat. Can it be exchange in the bank with Indian Currency?

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Abhishek Sharma (Expert) 29 March 2009
It will be criminal misappropriation of property punishable U/s 403 of IPC.

N.K.Assumi (Querist) 29 March 2009
What are the ingredients of section 403 of the IPC?Does it apply to innocent purchaser of goods? like vehicle, ornaments, graments etc?

Adv.Shine Thomas (Expert) 30 March 2009
It does not apply to innocent purchaser of goods.After discovering his mistake,dishonestly appropriates the property to his own use,he is guilty of an offence under this section.