1. Property, the possession whereof has been transferred by theft, or by extortion, or by robbery, or by cheating, and property which has been criminally misappropriated or in respect of which criminal breach of trust or cheating has been committed, is designated as "stolen property", whether the transfer has been made, or the misappropriation or breach of trust or cheating has been committed, within or without India. But, if such property subsequently comes into the possession of a person legally entitled to the possession thereof, it then ceases to be stolen property.
2. Whoever dishonestly receives or retains any stolen property, knowing or having reason to believe the same to be stolen property, shall be punished with imprisonment of either description for a term which may extend to three years, or with fine, or with both.
3. Whoever dishonestly receives or retains any stolen property, the possession whereof he knows or has reason to believe to have been transferred by robbery or 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.
4. Whoever habitually deals in stolen property, shall be punished with imprisonment for life, or with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.
5. Whoever assists in concealing or disposing of or making away with property which he knows or has reason to believe to be stolen property, shall be punished as if he had received the property knowing it to be stolen property.