Punishments to which offenders are liable Under Section 53 are –
First – Death;
Second – Imprisonment for life;
Third clause has been omitted by Act 17 of 1949, section – 2;
Fourthly – Imprisonment, which is of two descriptions, namely:-
Rigorous, that is, with hard labour;
Simple;

Fifthly – Forfeiture of property;
Sixth – Fine.

Criminal Conspiracy Explained – Indian Penal Code

Punishments Under Indian Penal Code
Deterrent theory – the main objective of this theory is to make the wrong-doer an example to others and prevent the wrong- doer himself from committing wrong again. Petty crimes like theft were punished with death or mutilation of parts. This theory has been criticized because of its harsh, severe and inhuman punishments.

Preventive theory – Objective of this punishment is prevention of crime by disabling the offenders by death, exile.

Retributive theory – This theory of revenge prevailed in primitive society. The person wronged was allowed to revenge against the wrong-doer. It is not a remedy and an eye for an eye makes the whole world blind.

Reformative theory – Reformation of criminals is the main objective of this theory. Teach and make them better human beings and preventing further crime is the sole aim of reformative theory.Indian system of justice follows Reformative theory.

Multiple Approach theory – Perfect system of justice involves various aspects and punishment should be based on degree of wrong and situation suggest this theory.