The section that you've mentioned in your query is of the Indian Penal Code (IPC), 1860 talks about an offence committed by someone who cheats another person and, thus, induces the deceived person to deliver his/her property in favor of the offender.
The section Section 420 of the Indian Penal Code deals with "Cheating and dishonestly inducing delivery of property". The section further states that - "Whoever cheats and thereby dishonestly induces the person deceived to deliver any property to any person, or to make, alter or destroy the whole or any part of a valuable security, or anything which is signed or sealed, and which is capable of being converted into a valuable security, shall be punished with imprisonment of either descripttion for a term which may extend to seven years, and shall also be liable to fine."
I've laid down a link of a case where a man from Chennai asked for similar amount of compensation, do have a look at that matter for more input -
https://www.indiatoday.in/coronavirus-outbreak/story/chennai-man-seeks-rs-5-crore-in-damages-after-taking-part-in-oxford-vaccine-trial-dgci-probes-claim-1745143-2020-11-29
Regards
Kevin M. Paul