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IBBI invites Comments on Draft Specimen of Info Memorandum & other docs

Nov 26, 2018: IBBI invites Suggestions and Comments on Draft Specimen:
a. Information Memorandum
b. Evaluation Matrix
c. Request for Resolution Plans, and
d. Resolution Plan.

1. The Insolvency and Bankruptcy Code, 2016 (Code) read with the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (Regulations) envisage inter alia preparation and issue / submission of (a) Information Memorandum, (b) Evaluation Matrix, (c) Request for Resolution Plans, and (d) Resolution Plan. These documents form the basis for various decisions by the stakeholders and hence the outcome of a corporate insolvency resolution process depends on quality of these documents.

Task Force for drafting a New Direct Tax Legislation

Nov 26, 2018: In order to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country, a Task Force was constituted by the Government of India in November, 2017.

In partial modification of the earlier order, the Government has appointed Shri Akhilesh Ranjan, Member (Legislation), CBDT as Convenor of the Task Force. Other members of the Task Force remain unchanged.

Payroll Reporting in India (EPFO, ESIC & NPS): Sep2017 to Sep2018 Analysis

Nov 23, 2018: The Ministry of Labour and Employment (MoLE) had, in May, 2017, constituted a Task Force on Improving Employment Data under the Chairmanship of Vice Chairman, NITI Aayog. The Task Force had made several recommendations for improving the availability of employment data including analysis of high frequency data.

In pursuance to the recommendations of this Task Force, Government started an initiative to report monthly progress made in the formal employment using data from the administrative records. After several follow up meetings and deliberations with key stakeholders, it was decided that the details of the new subscribers entering the Employees’ Provident Fund Organisation (EPFO), the Employees’ State Insurance Corporation (ESIC) and the National Pension Scheme (NPS) would be brought out by the respective organisations and Ministry of Statistics & Programme Implementation (MoSPI) would come out with a consolidated report regarding new subscribers contributing in these three schemes.

[SEBI] Fund raising by issuance of Debt Securities by Large Entities

SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018 addressed to all Listed Entities (whose specified securities or debt securities or NCRPS are listed on SEBI recognized Stock Exchanges), regarding Fund raising by issuance of Debt Securities by Large Entities, reads as follows:

1. With a view to operationalising the Union Budget announcement for 2018-19, which, inter-alia, stated "SEBI will also consider mandating, beginning with large entities, to meet about one-fourth of their financing needs from the debt market”, SEBI came out with a discussion paper on July 20, 2018. Based on feedback received on the discussion paper and wider consultation with market participants including entities, the detailed guidelines for operationalising the above budget announcement are given below.

[SEBI] Operating Guidelines for Alternative Investment Funds in IFSC

SEBI Circular No. SEBI/HO/IMD/DF1/CIR/P/143/2018 dated 26th November, 2018 addressed to all Alternative Investment Funds and all Custodians, regarding Operating Guidelines for Alternative Investment Funds in International Financial Services Centres (IFSC), reads as follows:

1. SEBI has issued SEBI (International Financial Services Centre) Guidelines, 2015 (hereinafter referred to as ‘IFSC Guidelines’) on March 27, 2015 for facilitating and regulating financial services relating to securities market in an IFSC set up under section 18(1) of Special Economic Zones Act, 2005. The IFSC Guidelines provide for broad framework for setting up of Alternatives Investment Funds (hereinafter referred to as ‘AIF’) in IFSC.

RTGS System: Implementation of Positive Confirmation (RBI Notification)

RBI Notification No. DPSS (CO) RTGS No.1049/04.04.016/2018-19 dated 15th November 2018, addressed to The Chairman / Managing Director / Chief Executive Officer of member banks participating in RTGS, regarding Real Time Gross Settlement (RTGS) System - Implementation of Positive Confirmation, reads as follows:-

1. Presently, the National Electronic Funds Transfer (NEFT) system provides for sending a positive confirmation to the remitter of the funds regarding completion of the funds transfer, thus giving an assurance to the remitter that the funds have been successfully credited to the beneficiary account. It has now been decided that banks will provide the same facility to the remitter of funds under the RTGS system as well.

Income-tax (12th Amendment) Rules 2018: Rule 114 & Form 49A Modified

Central Board of Direct Taxes (CBDT) Notification dated the 19th November 2018 :-

G.S.R. 1128(E).—In exercise of the powers conferred by section 139A read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. Short, title and commencement.-
(1) These rules may be called the Income-tax (Twelfth Amendment) Rules, 2018.

Disclosure of reasons for delay in submission of financial results by listed entities

SEBI Circular CIR/CFD/CMD-1/142/2018 dated 19th November 2018 :-

1. Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), inter-alia, specifies timelines for submission of financial results by listed entities. Accordingly, the quarterly and annual financial results are to be submitted by listed entities to stock exchanges within forty-five/sixty days from the end of the quarter/financial year. It is expected that the listed entities shall adhere to the aforesaid timelines for submission of financial results.

Govt issues Clarification regarding Maternity Leave Incentive Scheme

Nov 16, 2018: In a section of media, there have been some reports about Maternity Leave Incentive Scheme. In this regard, the Ministry of Labour & Employment has clarified the following - 

Background-

 (i) The Maternity Benefit Act, 1961 applies to establishments employing 10 or more than 10 persons in Factories, Mines, Plantation, Shops & Establishments and other entities. The main purpose of this Act is to regulate the employment of women in certain establishments for certain period before and after child birth and to provide maternity benefit and certain other benefits. The Act was amended through the Maternity Benefit (Amendment) Act, 2017 which, inter alia, has increased the paid maternity leave to women employees from 12 weeks to 26 weeks.

SEBI circular - Disclosures regarding Commodity risks by Listed entities

SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2018/0000000141 dated 15th November 2018 -

1. Regulation 34(3) read with clause 9(n) of Part C of Schedule V of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”) mandates listed entities to make disclosures regarding commodity price risk and hedging activities in the Corporate Governance Report section of the Annual Report of a listed entity.

[Customs] Exchange Rate Notification w.e.f. 16th November 2018

Central Board of Indirect Taxes and Customs (CBIC) has notified the rate of exchange of one unit of foreign currency equivalent to Indian rupees relating to imported and export goods, in its notification no. 93/2018 - Customs (N.T.) dated 15th November, 2018 (w.e.f. 16th November, 2018).

The contents of the said notification are reproduced as under:—

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.90/2018-CUSTOMS (N.T.), dated 1st November, 2018 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 16th November, 2018, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

National Financial Reporting Authority (NFRA) Rules 2018 - Notified

In exercise of the powers conferred under sub-sections (2) and (4) of section 132, sub-section (1) of section 139 and sub-section (1) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government has made the National Financial Reporting Authority Rules, 2018. Ministry of Corporate Affairs has notified the said rules on 13th November 2018. The full text of the rules are available at MCA site.

Companies (Registered Valuers & Valuation) 4th Amendment Rules 2018

Ministry of Corporate Affairs (MCA) Notification dated the 13th November, 2018 (published in the Official Gazette on 13th November 2018):-

G.S.R.1108(E).— In exercise of the powers conferred by section 247 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Registered Valuers and Valuation) Rules, 2017, namely:-

1. (1) These rules may be called the Companies (Registered Valuers and Valuation) Fourth Amendment Rules, 2018.
 (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Registered Valuers and Valuation) Rules, 2017 (hereinafter referred to as “the said rules”), in rule 1,-

Food Safety & Standards (Recognition & Notification of Laboratories) Reg. 2018

Ministry of Health and Family Welfare (Food Safety and Standards Authority of India) Notification dated 8th November 2018

F. No. 11/202/LAB REC/QA/FSSAI/2016.—Whereas the draft of the Food Safety and Standards (Recognition and Notification of Laboratories) Regulations, 2017 were published as required by section 92 of the Food Safety and Standards Act, 2006 (34 of 2006), vide notification of the Food Safety and Standards Authority of India number F.No. 11/202/LAB REC/QA/FSSAI/2016, dated 27th December, 2017, in the Gazette of India, Extraordinary, Part III, Section 4, inviting objections and suggestions from the persons likely to be affected thereby, before the expiry of the period of thirty days from the date on which the copies of the Official Gazette containing the said notification were made available to the public;

[SEBI] Guidelines for Enhanced Disclosures by Credit Rating Agencies (CRAs)

SEBI Circular No. SEBI/ HO/ MIRSD/ DOS3/ CIR/ P/ 2018/ 140 dated 13th November 2018, reads as follows:

SEBI has constantly endeavoured to enhance the quality of disclosures made by the CRAs. In pursuance of the same, the following disclosures are being prescribed to bring about greater transparency:

1. Disclosures in the Press Release regarding Rating Actions:

A. SEBI, vide Circular dated November 01, 2016, had prescribed the standard format for press release regarding rating action by CRAs. While CRAs are required to monitor and analyse the relevant factors that affect the creditworthiness of an issuer and discuss the same in the rating notes considered by the rating committee for assignment of ratings, such relevant factors may also be suitably incorporated in the press release regarding the rating action.

Quick Estimates of Index of Industrial Production for Sep 2018 stands at 128.6

Nov 12, 2018: The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of September 2018 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation.

1. The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of September 2018 stands at 128.6, which is 4.5 percent higher as compared to the level in the month of September 2017. The cumulative growth for the period April-September 2018 over the corresponding period of the previous year stands at 5.1 percent.

Consumer Price Index (CPI) for Rural, Urban & Combined - October 2018

Nov 12, 2018: The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of January 2015.

2. In this press note, the CPI (Rural, Urban, Combined) on Base 2012=100 is being released for the month of October 2018. In addition to this, Consumer Food Price Index (CFPI) for all India Rural, Urban and Combined are also being released for October 2018. All India Inflation rates (on point to point basis i.e. current month over same month of last year, i.e., October 2018 over October 2017), based on General Indices and CFPIs are given as follows:

All India Inflation rates (%) based on CPI (General) and CFPI

India's Index of Eight Core Industries (Base: 2011-12=100) September, 2018

The summary of the Index of Eight Core Industries (base: 2011-12) is given at the Annexure.

The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stood at 127.2 in September, 2018, which was 4.3 per cent higher as compared to the index of September, 2017. Its cumulative growth during April to September, 2018-19 was 5.5 per cent.

Index Numbers of Wholesale Price (WPI) in India - Review for Sept. 2018

The official Wholesale Price Index for ‘All Commodities’ (Base: 2011-12=100) for the month of September, 2018 rose by 0.7 percent to 120.8 (provisional) from 120.0 (provisional) for the previous month. (As released by the Office of Economic Adviser, Ministry of Commerce & Industry, New Delhi)

INFLATION

The annual rate of inflation, based on monthly WPI, stood at 5.13% (provisional) for the month of September, 2018 (over September, 2017) as compared to 4.53% (provisional) for the previous month and 3.14% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 3.87% compared to a build up rate of 1.50% in the corresponding period of the previous year.

Inflation for important commodities / commodity groups is indicated in Annex-1 and Annex-II.
The movement of the index for the various commodity groups is summarized below:-

Impact of Demonitization: An Article by Union Minister, Shri Arun Jaitley

Nov 8, 2018: Following is the Text of the Article written by the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley on completion of two years of Demonetisation entitled “Impact of Demonitisation”: (Source: Ministry of Finance)

“Today we complete two years after demonitisation.

Demonitisation is a key step in a chain of important decisions taken by the Government to formalise the economy.

The Government first targeted the black money outside India.  Asset holders were asked to bring this money back on payment of penal tax. Those who failed to do so are being prosecuted under the Black Money Act.  Details of all accounts and assets abroad which have reached the Government, resulted in action against the violators.

Exponential Growth in Digital Transactions in India (2016-2018)

Nov 9, 2018: Over the past two years, Digital payment transactions have registered tremendous growth in India. New payment modes – Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), Aadhaar enabled Payment System (AePS) and National Electronic Toll Collection (NETC) – have transformed digital payment ecosystem by increasing Person to Person (P2P) as well as Person to Merchant (P2M) payments. At the same time existing payment modes such as debit cards, credit cards, Immediate Payment Service (IMPS) and Pre Paid Instruments(PPI) have registered substantial growth.

CBIC - Advisory to UIN Entities claiming GST Refunds

Nov 9, 2018: CBIC has informed as follows - The GST Act provides for allotting a Unique Identification Number (UIN) to Consulates, Embassies and other UN Organizations to enable such entities to claim refund of GST paid. One of the conditions for claiming this refund is to file invoice level data in their FORM GSTR-11 on the common portal. There are common discrepancies which have been noticed by GST Authorities while processing refund applications.

FORM GSTR-11 under Rule 82 of the CGST Rules, 2017 mandates reporting “Place of Supply” for every invoice on which refund is applied for. Many UIN entities while filling invoice data have been reporting their place of supply as the State where they are registered instead of the place of supply as reflected in the invoice.

CBIC issues clarifications on GST refunds as on 31st October 2018

Nov 8, 2018: CBIC has informed that - There are concerns being raised about growing pendency of GST Refunds. Exporters are reassured that there is no letup in the sanction of GST refunds. The disposal rate is consistently improving month-on-month.

As on 31st October, 2018, total GST refunds to the tune of Rs 82,775 crore have been disposed by CBIC and State authorities out of the total refund claims of Rs 88,175 crore received so far. Thus, the disposal rate of 93.8 % has been achieved as on 31.10.2018. The pending GST refund claims amounting to Rs 5,400 crore are being expeditiously processed so as to provide relief to eligible exporters. Refund claims without any deficiency are being cleared expeditiously.

[RBI] ECB Policy: Review of Minimum Average Maturity & Hedging Provisions

RBI's A.P. (DIR Series) Circular No.11 dated November 06, 2018 addressed to all Category-I Authorised Dealer Banks, is as under:

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraphs 2.4.1, 2.4.2 and 2.5 of Master Direction No.5 dated January 1, 2016 on “External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers”, as amended from time to time, in terms of which certain eligible borrowers raising foreign currency denominated ECBs under Track I, having a minimum average maturity requirement of 5 years, are mandatorily required to hedge their ECB exposure fully.

2. The extant provisions have been reviewed and it has been decided, in consultation with the Government of India, to amend the following provisions of the ECB framework:

[GST] Circular clarifying collection of tax at source by Tea Board of India

Central Board of Indirect Taxes and Customs (GST Policy Wing) Circular No. 74/48/2018-GST dated the 5th November, 2018 :-

1. Tea Board of India (hereinafter referred to as the, “Tea Board”), being the operator of the electronic auction system for trading of tea across the country including for collection and settlement of payments, admittedly falls under the category of electronic commerce operator liable to collect Tax at Source (hereinafter referred to as, “TCS”) in accordance with the provisions of section 52 of the Central Goods and Service Tax Act, 2017 (hereinafter referred to as, “the CGST Act”).

2. The participants in the said auction are the sellers i.e. the tea producers and auctioneers who carry out the auction on behalf of such sellers and buyers.

Principal-agent relationship Sch I of CGST Act 2017 (del-credere agent)

Central Board of Indirect Taxes and Customs (GST Policy Wing) Circular No. 73/47/2018-GST dated the 5th November, 2018

Scope of principal and agent relationship under Schedule I of CGST Act, 2017 in the context of del-credere agent

1. Post issuance of circular No. 57/31/2018-GST dated 4th September, 2018 from F. No. CBEC/20/16/4/2018-GST, various representations have been received from the trade and industry, as well as from the field formations regarding the scope and ambit of principal agent relationship under GST in the context of del-credere agent (hereinafter referred to as “DCA”). In order to clarify these issues and to ensure uniformity of implementation across field formations, the Board, in exercise of its powers conferred under section 168 (1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as “CGST Act”) hereby clarifies the issues in succeeding paras.

[GST] Exempt supply from PSU to PSU from TDS provisions applicability

Central Board of Indirect Taxes and Customs Notification No. 61/2018 – Central Tax dated the 5th November, 2018 :-

In exercise of the powers conferred by sub-section (3) of section 1, read with section 51 of the Central Goods and Services Tax Act, 2017 (12 of 2017), hereafter in this notification referred to as the said Act, the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance, Department of Revenue No. 50/2018-Central Tax, dated the 13th September, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R 868(E), dated the 13th September, 2018, namely:–

In the said notification, after the proviso, the following proviso shall be inserted, namely:-

Companies Amendment (Ordinance) 2018 promulgated - President assent received

Nov 2, 2018: The recommendation of the Union Cabinet for promulgation of the Companies Amendment (Ordinance), 2018 has been assented to  by the President of India.  The Ordinance, which has been promulgated today is based on the recommendations of the Committee appointed by the Government to review  offences under the Companies Act, 2013.

The twin objectives of the Ordinance are promotion of Ease of Doing Business along with better corporate compliance.

The main amendments are as under;

IT Rules 1962 Amendment: Rules 2C, 2CA & 11AA Forms 10G, 56 & 56G

Amendment of Rules 2C, 2CA and 11AA and Form Nos 10G, 56 and 56G of the Income-tax Rules, 1962 - draft notification placed in public domain

Currently, for grant of approval under sub-clauses (iv) and (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (the Act), for exemption of income received by any person on behalf of any other fund or institution, any trust or institution, rule 2C of the Income-tax Rules, 1962 (the Rules) provide for filing of application manually in Form No 56.

GST Revenue Collections for Oct 2018 crosses Rupees One Lac Crore

The total gross GST revenue collected in the month of October, 2018 is Rs. 100,710crore of which CGST is Rs. 16,464crore, SGST is Rs. 22,826crore, IGST is Rs. 53,419crore (including Rs. 26,908crore collected on imports) and Cess is Rs. 8,000 crore(including Rs. 955crore collected on imports).

The total number of GSTR 3B Returns filed for the month of September up to 31st October, 2018 is 67.45lakh.

[SEBI] Standardised Norms for Transfer of Securities in Physical mode

SEBI Circular No. SEBI/HO/MIRSD/DOS3/CIR/P/2018/139 dated 6th November 2018, reads as follows:-

1. Vide Regulation 40 and Schedule VII of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”) SEBI has prescribed requirements for transfer of securities in physical mode.

2. It has been brought to the notice of SEBI that RTAs are seeking various documents for effecting transfer of securities and the documents sought vary across RTAs. SEBI has also received representations, highlighting difficulties faced by transferees in providing these documents. In this regard, SEBI had meetings with Registrars Association of India (RAIN) and Depositories in this regard and pursuant to such meetings, RAIN has submitted a standardised procedure for transfer of securities in physical mode. The proposal of RAIN has been examined and accordingly, the documentation / procedure for transfer of physical securities is modified as under:

(Annx - A) Undertaking & Indemnity bond from Transferee of securities


To be reproduced on Non-Judicial Stamp Paper or franked with equivalent amount and duly notarized

Undertaking - and - Indemnity bond

This Undertaking - and - Indemnity Bond is made and executed on .... July, 2018 at ..............

By

Mr./Ms. .................................. son / daughter / wife of .................................. and Mr./Ms. .................................. son /daughter / wife of .................................. residing at .................................. having permanent address at ________(hereinafter called as “Indemnifier”, which expression unless it be repugnant to the context or meaning thereof, mean and include my / our legal heirs, successors, administrators and assigns) of the one Part

SEBI - Advisory in respect of Foreign Trading Portals

SEBI has issued an advisory on Oct 30, 2018 in the interest of various segment of investors in the securities market, which reads as under:-

It has come to the notice of Securities and Exchange Board of India (SEBI) that investors in India are being offered services by various firms through online web portals to trade in a variety of financial products including various types of derivatives, which are apparently traded on overseas platform/exchange.

[Customs] Exchange Rate Notification w.e.f. 2nd November 2018

Central Board of Indirect Taxes and Customs (CBIC) has notified the rate of exchange of one unit of foreign currency equivalent to Indian rupees relating to imported and export goods, in its notification no. 90/2018 - Customs (N.T.) dated 1st November, 2018 (w.e.f. 2nd November, 2018).

The contents of the said notification are reproduced as under:—

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.87/2018-CUSTOMS (N.T.), dated 18th October, 2018 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 2nd November, 2018, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

1st, 2nd, 3rd and 4th Schedules of Information Technology Act 2000

By the Information Technology (Amendment) Act 2008 (w.e.f. 27-Oct-2009), the Third Schedule and the Fourth Schedule to the Act were omitted, and the First Schedule and the Second Schedule to the Act were substituted.
...........................................................................................................................

THE FIRST SCHEDULE
[See sub-section (4) of section 1]
DOCUMENTS OR TRANSACTIONS TO WHICH THE ACT SHALL NOT APPLY

DOCUMENTS OR TRANSACTIONS TO WHICH THE ACT SHALL NOT APPLY

______________

THE SECOND SCHEDULE
[See sub-section (1) of section 3A]

ELECTRONIC SIGNATURE OR ELECTRONIC AUTHENTICATION TECHNIQUE AND PROCEDURE

ELECTRONIC SIGNATURE OR ELECTRONIC AUTHENTICATION TECHNIQUE AND PROCEDURE

______________

Sections 91, 92, 93 & 94 of Information Technology Act 2000 (Omitted)

Section 91. Amendment of Act 45 of 1860.

The Indian Penal Code shall be amended in the manner specified in the First Schedule to this Act.

Section 92. Amendment of Act 1 of 1872.

The Indian Evidence Act, 1872 shall be amended in the manner specified in the Second Schedule to this Act.

Section 93. Amendment of Act 18 of 1891.

The Bankers' Books Evidence Act, 1891 shall be amended in the manner specified in the Third Schedule to this Act.

Section 94. Amendment of Act 2 of 1834.

The Reserve Bank of India Act, 1934 shall be amended in the manner specified in the Fourth Schedule to this Act.



.........................................

Notes:

Sections 91, 92, 93 and 94 were OMITTED by the Information Technology (Amendment) Act 2008 w.e.f. 27-Oct-2009.

Sec 90, Information Technology Act 2000: Power of State Govt to make rules

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 90 (Power of State Government to make rules)

❝(1) The State Government may, by notification in the Official Gazette, make rules to carry out the provisions of this Act.

(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:–
(a) the electronic form in which filing, issue, grant, receipt or payment shall be effected under sub-section (1) of section 6;
(b) for matters specified in sub-section (2) of section 6;

(3) Every rule made by the State Government under this section shall be laid, as soon as may be after it is made, before each House of the State Legislature where it consists of two Houses, or where such Legislature consists of one House, before that House.❞


................................................................

Notes:

In section 90 of the Act, in sub-section (2), clause (c) was omitted by the Information Technology (Amendment) Act 2008 w.e.f. 27-Oct-2009.

Sec 89, Information Technology Act 2000: Power of Controller to make regulations

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 89 (Power of Controller to make regulations)

❝(1) The Controller may, after consultation with the Cyber Regulations Advisory Committee and with the previous approval of the Central Government, by notification in the Official Gazette, make regulations consistent with this Act and the rules made thereunder to carry out the purposes of this Act.

(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:–
(a) the particulars relating to maintenance of data base containing the disclosure record of every Certifying Authority under clause (n) of section 18;
(b) the conditions and restrictions subject to which the Controller may recognise any foreign Certifying Authority under sub-section (1) of section 19;
(c) the terms and conditions subject to which a licence may be granted under clause (c) of sub-section (3) of section 21;
(d) other standards to be observed by a Certifying Authority under clause (d) of section 30;
(e) the manner in which the Certifying Authority shall disclose the matters specified in sub-section (1) of section 34;
(f) the particulars of statement which shall accompany an application under sub-section (3) of section 35.
(g) the manner by which the subscriber shall communicate the compromise of private key to the Certifying Authority under sub-section (2) of section 42.

(3) Every regulation made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation or both Houses agree that the regulation should not be made, the regulation shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that regulation.❞



.................................................................

Notes:

In clause (a) of sub-section (2), the letter and brackets "(n)" was substituted by notification No. S.O. 1015(E), for “(m)” (w.e.f. 19-9-2002).

Sec 88, Information Technology Act 2000: Constitution of Advisory Committee

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 88 (Constitution of Advisory Committee)

❝(1) The Central Government shall, as soon as may be after the commencement of this Act, constitute a Committee called the Cyber Regulations Advisory Committee.

(2) The Cyber Regulations Advisory Committee shall consist of a Chairperson and such number of other official and non-official members representing the interests principally affected or having special knowledge of the subject-matter as the Central Government may deem fit.

(3) The Cyber Regulations Advisory Committee shall advise–
  (a) the Central Government either generally as regards any rules or for any other purpose connected with this Act;
  (b) the Controller in framing the regulations under this Act.

(4) There shall be paid to the non-official members of such Committee such travelling and other allowances as the Central Government may fix.❞

Sec 87, Information Tech. Act 2000: Power of Central Govt to make rules

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 87 (Power of Central Government to make rules)

❝(1) The Central Government may, by notification in the Official Gazette and in the Electronic Gazette, make rules to carry out the provisions of this Act.

(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:–

(a) the conditions for considering reliability of electronic signature or electronic authentication technique under sub-section (2) of section 3A;
(aa) the procedure for ascertaining electronic signature or authentication under sub-section (3) of section 3A;
(ab) the manner in which any information or matter may be authenticated by means of electronic signature under section 5;
(b) the electronic form in which filing, issue, grant or payment shall be effected under sub-section (1) of section 6;
(c) the manner and format in which electronic records shall be filed, or issued and the method of payment under sub-section (2) of section 6;
(ca) the manner in which the authorised service provider may collect, retain and appropriate service charges under sub-section (2) of section 6A;
(d) the matters relating to the type of electronic signature, manner and format in which it may be affixed under section 10;
(e) the manner of storing and affixing electronic signature creation data under section 15;
(ea) the security procedures and practices under section 16;
(f) the qualifications, experience and terms and conditions of service of Controller, Deputy Controllers, Assistant Controllers, other officers and employees under section 17;
(h) the requirements which an applicant must fulfil under sub-section (2) of section 21;
(i) the period of validity of licence granted under clause (a) of sub-section (3) of section 21;
(j) the form in which an application for licence may be made under sub-section (1) of section 22;
(k) the amount of fees payable under clause (c) of sub-section (2) of section 22;
(l) such other documents which shall accompany an application for licence under clause (d) of sub-section (2) of section 22;
(m) the form and the fee for renewal of a licence and the fee payable thereof under section 23;
(ma) the form of application and fee for issue of Electronic Signature Certificate under section 35;
(n) the form in which application for issue of a electronic signature Certificate may be made under sub-section (1) of section 35;
(o) the fee to be paid to the Certifying Authority for issue of a electronic signature Certificate under sub-section (2) of section 35;
(oa) the duties of subscribers under section 40A;
(ob) the reasonable security practices and procedures and sensitive personal data or information under section 43A;
(p) the manner in which the adjudicating officer shall hold inquiry under sub-section (1) of section 46;
(q) the qualification and experience which the adjudicating officer shall possess under sub-section (3) of section 46;
(u) the form in which appeal may be filed and the fee thereof under sub-section (3) of section 57;
(v) any other power of a civil court required to be prescribed under clause (g) of sub-section (2) of section 58; and
(w) the powers and functions of the Chairperson of the Appellate Tribunal under section 52A;
(x) the information, duration, manner and form of such information to be retained and preserved under section 67C;
(y) the procedures and safeguards for interception, monitoring or decryption under sub-section (2) of section 69;
(z) the procedures and safeguards for blocking for access by the public under sub-section (3) of section 69 A;
(za) the procedure and safeguards for monitoring and collecting traffic data or information under sub-section (3) of section 69B;
(zb) the information security practices and procedures for protected system under section 70;
(zc) manner of performing functions and duties of the agency under sub-section (3) of section 70A;
(zd) the officers and employees under sub-section (2) of section 70B;
(ze) salaries and allowances and terms and conditions of service of the Director General and other officers and employees under sub-section (3) of section 70B;
(zf) the manner in which the functions and duties of agency shall be performed under sub-section (5) of section 70B;
(zg) the guidelines to be observed by the intermediaries under sub-section (2) of section 79;
(zh) the modes or methods for encryption under section 84A.

(3) Every notification made by the Central Government under sub-section (1) of section 70A and every rule made by it shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that notification or rule.❞



...........................................................

Notes:

(1) Section 87 of the Act was modified by the Information Technology (Amendment) Act 2008 w.e.f. 27-Oct-2009 :

o in sub-section (2),
 - clauses (a), (e) & (w) were substituted;
 - clauses (aa), (ab), (ca), (ea), (ma), (oa), (ob), (x), (y), (z), (za), (zb), (zc), (zd), (ze), (zf), (zg), (zh) were newly inserted;
 - clause (g) was omitted;
 - in clause (f), for the words “and Assistant Controllers”, the words “, Assistant Controllers, other officers and employees” were substituted;
 - clause (r) and (s) were modified.

o in sub-section (3),
 - for the words, brackets, letter and figures “Every notification made by the Central Government under clause (f) of sub-section (4) of section 1 and every rule made by it”, the words “Every notification made by the Central Government under sub-section (1) of section 70A and every rule made by it” were substituted;
 - the words “the notification or” wherever they occur, were omitted.

(2) In section 87, in sub-section (2), clauses (r), (s) and (t) were omitted by the Finance Act 2017 (No. 7 of 2017), s. 169 (w.e.f. 26-5-2017).

Section 86 of Information Technology Act 2000: Removal of difficulties

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 86 (Removal of difficulties)

❝(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as appear to it to be necessary or expedient for removing the difficulty:

Provided that no order shall be made under this section after the expiry of a period of two years from the commencement of this Act.

(2) Every order made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.❞

Section 85 of Information Technology Act 2000: Offences by Companies

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 85 (Offences by companies)

❝(1) Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of business of the company as well as the company, shall be guilty of the contravention and shall be liable to be proceeded against and punished accordingly:

Provided that nothing contained in this sub-section shall render any such person liable to punishment if he proves that the contravention took place without his knowledge or that he exercised all due diligence to prevent such contravention.

(2) Notwithstanding anything contained in sub-section (1), where a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder has been committed by a company and it is proved that the contravention has taken place with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly.

Explanation.–For the purposes of this section,–
(i) “company” means any body corporate and includes a firm or other association of individuals; and
(ii) “director”, in relation to a firm, means a partner in the firm.❞

Sec 84C, Info. Tech. Act 2000: Punishment for attempt to commit offences

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 84C (Punishment for attempt to commit offences)

❝Whoever attempts to commit an offence punishable by this Act or causes such an offence to be committed, and in such an attempt does any act towards the commission of the offence, shall, where no express provision is made for the punishment of such attempt, be punished with imprisonment of any description provided for the offence, for a term which may extend to one-half of the longest term of imprisonment provided for that offence, or with such fine as is provided for the offence, or with both.❞


...........................................................

Notes:

Section 84C of the Act was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27-Oct-2009.

Sec 84B, Information Tech. Act 2000: Punishment for abetment of offences

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 84B (Punishment for abetment of offences)

❝Whoever abets any offence shall, if the act abetted is committed in consequence of the abetment, and no express provision is made by this Act for the punishment of such abetment, be punished with the punishment provided for the offence under this Act.

Explanation.–An act or offence is said to be committed in consequence of abetment, when it is committed in consequence of the instigation, or in pursuance of the conspiracy, or with the aid which constitutes the abetment.❞


...........................................................

Notes:

Section 84B of the Act was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27-Oct-2009.

Sec 84A, Information Tech. Act 2000: Modes or Methods for Encryption

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 84A (Modes or methods for encryption)

❝The Central Government may, for secure use of the electronic medium and for promotion of e-governance and e-commerce, prescribe the modes or methods for encryption.❞


...........................................................

Notes:

Section 84A of the Act was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27-Oct-2009.

Sec 84, Information Tech. Act 2000: Protection of action taken in good faith

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 84 (Protection of action taken in good faith)

❝No suit, prosecution or other legal proceeding shall lie against the Central Government, the State Government, the Controller or any person acting on behalf of him, 5[and adjudicating officers] for anything which is in good faith done or intended to be done in pursuance of this Act or any rule, regulation or order made thereunder.❞


...........................................................

Notes:

In section 84, for the words "the Chairperson, Members, adjudicating officers and the staff of the Cyber Appellate Tribunal", the words "and adjudicating officers" were substituted by the Finance Act 2017 (No. 7 of 2017), s. 169 (w.e.f. 26-May-2017).

Sec 83, Information Technology Act 2000: Power to give directions

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 83 (Power to give directions)

❝The Central Government may give directions to any State Government as to the carrying into execution in the State of any of the provisions of this Act or of any rule, regulation or order made thereunder.❞

Sec 82, IT Act 2000: Controller, Deputy Controller & Assistant Controller

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 82 (Controller, Deputy Controller and Assistant Controller to be public servants)

❝The Controller, the Deputy Controller and the Assistant Controllers shall be deemed to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).❞



...........................................................

Notes:

Section 82 of the Act was substituted by the Finance Act 2017 (No. 7 of 2017), s. 169 (w.e.f. 26-May-2017)

Sec 81A, IT Act 2000: Application of the Act to electronic cheque & truncated cheque

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 81A (Application of the Act to electronic cheque and truncated cheque)

❝(1) The provisions of this Act, for the time being in force, shall apply to, or in relation to, electronic cheques and the truncated cheques subject to such modifications and amendments as may be necessary for carrying out the purposes of the Negotiable Instruments Act, 1881 (26 of 1881) by the Central Government, in consultation with the Reserve Bank of India, by notification in the Official Gazette.

(2) Every notification made by the Central Government under sub-section (1) shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the notification or both Houses agree that the notification should not be made, the notification shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that notification.

Explanation.–For the purposes of this Act, the expressions “electronic cheque” and “truncated cheque” shall have the same meaning as assigned to them in section 6 of the Negotiable Instruments Act, 1881 (26 of 1881).❞



......................................................

Notes:

Section 81A was newly inserted by the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act 2002 (Act 55 of 2002), s. 13 (w.e.f. 26-Feb-2003).

Sec 81, Information Technology Act 2000: Act to have overriding effect

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 81 (Act to have overriding effect)

❝The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force.

Provided that nothing contained in this Act shall restrict any person from exercising any right conferred under the Copyright Act, 1957 (14 of 1957) or the Patents Act, 1970 (39 of 1970).❞



......................................................

Notes:

Proviso to Section 81 of the Act was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Sec 80, Information Tech. Act 2000: Power of police officer & other officers

Information Technology Act 2000

Chapter XIII (Miscellaneous)

Section 80 (Power of police officer and other officers to enter, search, etc.)

❝(1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), any police officer, not below the rank of a Inspector, or any other officer of the Central Government or a State Government authorised by the Central Government in this behalf may enter any public place and search and arrest without warrant any person found therein who is reasonably suspected of having committed or of committing or of being about to commit any offence under this Act.

Explanation.–For the purposes of this sub-section, the expression “public place” includes any public conveyance, any hotel, any shop or any other place intended for use by, or accessible to the public.

(2) Where any person is arrested under sub-section (1) by an officer other than a police officer, such officer shall, without unnecessary delay, take or send the person arrested before a magistrate having jurisdiction in the case or before the officer-in-charge of a police station.

(3) The provisions of the Code of Criminal Procedure, 1973 (2 of 1974) shall, subject to the provisions of this section, apply, so far as may be, in relation to any entry, search or arrest, made under this section.❞



......................................................

Notes:

In section 80 of the principal Act, in sub-section (1), for the words “Deputy Superintendent of Police”, the word "Inspector" was substituted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Sec 79A, Info. Tech. Act 2000: Central Govt to notify Examiner of Electronic Evidence

Information Technology Act 2000

Chapter XIIA (Examiner of Electronic Evidence)

Section 79A (Central Government to notify Examiner of Electronic Evidence)

❝The Central Government may, for the purposes of providing expert opinion on electronic form evidence before any court or other authority specify, by notification in the Official Gazette, any Department, body or agency of the Central Government or a State Government as an Examiner of Electronic Evidence.

Explanation.–For the purposes of this section, “electronic form evidence” means any information of probative value that is either stored or transmitted in electronic form and includes computer evidence, digital audio, digital video, cell phones, digital fax machines.❞



......................................................

Notes:

Section 79A was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Section 79, Info. Tech. Act 2000: Exemption from liability of intermediary

Information Technology Act 2000

Chapter XII (Intermediaries Not To Be Liable In Certain Cases)

Section 79 (Exemption from liability of intermediary in certain cases)

❝(1) Notwithstanding anything contained in any law for the time being in force but subject to the provisions of sub-sections (2) and (3), an intermediary shall not be liable for any third party information, data, or communication link made available or hosted by him.

(2) The provisions of sub-section (1) shall apply if–

 (a) the function of the intermediary is limited to providing access to a communication system over which information made available by third parties is transmitted or temporarily stored or hosted; or

 (b) the intermediary does not–
  (i) initiate the transmission,
  (ii) select the receiver of the transmission, and
  (iii) select or modify the information contained in the transmission;

 (c) the intermediary observes due diligence while discharging his duties under this Act and also observes such other guidelines as the Central Government may prescribe in this behalf.

(3) The provisions of sub-section (1) shall not apply if–

 (a) the intermediary has conspired or abetted or aided or induced, whether by threats or promise or otherwise in the commission of the unlawful act;

 (b) upon receiving actual knowledge, or on being notified by the appropriate Government or its agency that any information, data or communication link residing in or connected to a computer resource controlled by the intermediary is being used to commit the unlawful act, the intermediary fails to expeditiously remove or disable access to that material on that resource without vitiating the evidence in any manner.

Explanation.–For the purposes of this section, the expression “third party information” means any information dealt with by an intermediary in his capacity as an intermediary.❞



......................................................

Notes:

Section 79 was substituted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Sec 78, Information Technology Act 2000: Power to investigate offences

Information Technology Act 2000

Chapter XI (Offences)

Section 78 (Power to investigate offences)

❝Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), a police officer not below the rank of Inspector shall investigate any offence under this Act.❞



......................................................

Notes:

In section 78 of the Act, for the words “Deputy Superintendent of Police”, the word “Inspector” was substituted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Section 77B, IT Act 2000: Offences with 3yrs imprisonment to be bailable

Information Technology Act 2000

Chapter XI (Offences)

Section 77B (Offences with three years imprisonment to be bailable)

❝Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), the offence punishable with imprisonment of three years and above shall be cognizable and the offence punishable with imprisonment of three years shall be bailable.❞


......................................................

Notes:

Section 77B was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Section 77A, Information Technology Act 2000: Compounding of Offences

Information Technology Act 2000

Chapter XI (Offences)

Section 77A (Compounding of offences)

❝A court of competent jurisdiction may compound offences, other than offences for which the punishment for life or imprisonment for a term exceeding three years has been provided, under this Act:

Provided that the court shall not compound such offence where the accused is, by reason of his previous conviction, liable to either enhanced punishment or to a punishment of a different kind:

Provided further that the court shall not compound any offence where such offence affects the socio economic conditions of the country or has been committed against a child below the age of 18 years or a woman.

(2) The person accused of an offence under this Act may file an application for compounding in the court in which offence is pending for trial and the provisions of sections 265B and 265C of the Code of Criminal Procedure, 1973 (2 of 1974) shall apply.❞



................................................

Notes:

Section 77A was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Sec 77, Info. Tech. Act 2000: Compensation, penalties or confiscation not to ...

Information Technology Act 2000

Chapter XI (Offences)

Section 77 (Compensation, penalties or confiscation not to interfere with other punishment)

❝No compensation awarded, penalty imposed or confiscation made under this Act shall prevent the award of compensation or imposition of any other penalty or punishment under any other law for the time being in force.❞


...............................................

Notes:

Section 77 of the Act was substituted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Section 76 of Information Technology Act 2000: Confiscation

Information Technology Act 2000

Chapter XI (Offences)

Section 76 (Confiscation)

❝Any computer, computer system, floppies, compact disks, tape drives or any other accessories related thereto, in respect of which any provision of this Act, rules, orders or regulations made thereunder has been or is being contravened, shall be liable to confiscation:

Provided that where it is established to the satisfaction of the court adjudicating the confiscation that the person in whose possession, power or control of any such computer, computer system, floppies, compact disks, tape drives or any other accessories relating thereto is found is not responsible for the contravention of the provisions of this Act, rules, orders or regulations made thereunder, the court may, instead of making an order for confiscation of such computer, computer system, floppies, compact disks, tape drives or any other accessories related thereto, make such other order authorised by this Act against the person contravening of the provisions of this Act, rules, orders or regulations made thereunder as it may think fit.❞

Sec 75, IT Act 2000: Act to apply for offence or contravention committed outside India

Information Technology Act 2000

Chapter XI (Offences)

Section 75 (Act to apply for offence or contravention committed outside India)

❝(1) Subject to the provisions of sub-section (2), the provisions of this Act shall apply also to any offence or contravention committed outside India by any person irrespective of his nationality.

(2) For the purposes of sub-section (1), this Act shall apply to an offence or contravention committed outside India by any person if the act or conduct constituting the offence or contravention involves a computer, computer system or computer network located in India.❞

Sec 74, Information Technology Act 2000: Publication for fraudulent purpose

Information Technology Act 2000

Chapter XI (Offences)

Section 74 (Publication for fraudulent purpose)

❝Whoever knowingly creates, publishes or otherwise makes available a electronic signature Certificate for any fraudulent or unlawful purpose shall be punished with imprisonment for a term which may extend to two years, or with fine which may extend to one lakh rupees, or with both.❞

Sec 73, IT Act 2000: Penalty for publishing electronic signature Certificate false...

Information Technology Act 2000

Chapter XI (Offences)

Section 73 (Penalty for publishing electronic signature Certificate false in certain particulars)

❝(1) No person shall publish a electronic signature Certificate or otherwise make it available to any other person with the knowledge that–

  (a) the Certifying Authority listed in the certificate has not issued it; or
  (b) the subscriber listed in the certificate has not accepted it; or
  (c) the certificate has been revoked or suspended,

unless such publication is for the purpose of verifying a electronic signature created prior to such suspension or revocation.

(2) Any person who contravenes the provisions of sub-section (1) shall be punished with imprisonment for a term which may extend to two years, or with fine which may extend to one lakh rupees, or with both.❞

Sec 72A, IT Act 2000: Punishment for disclosure of info in breach of lawful contract

Information Technology Act 2000

Chapter XI (Offences)

Section 72A (Punishment for disclosure of information in breach of lawful contract)

❝Save as otherwise provided in this Act or any other law for the time being in force, any person including an intermediary who, while providing services under the terms of lawful contract, has secured access to any material containing personal information about another person, with the intent to cause or knowing that he is likely to cause wrongful loss or wrongful gain discloses, without the consent of the person concerned, or in breach of a lawful contract, such material to any other person, shall be punished with imprisonment for a term which may extend to three years, or with fine which may extend to five lakh rupees, or with both.❞



......................................................

Notes:

Section 72A was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Sec 72, Info. Tech. Act 2000: Penalty for Breach of confidentiality & privacy

Information Technology Act 2000

Chapter XI (Offences)

Section 72 (Penalty for Breach of confidentiality and privacy)

❝Save as otherwise provided in this Act or any other law for the time being in force, if any person who, in pursuance of any of the powers conferred under this Act, rules or regulations made thereunder, has secured access to any electronic record, book, register, correspondence, information, document or other material without the consent of the person concerned discloses such electronic record, book, register, correspondence, information, document or other material to any other person shall be punished with imprisonment for a term which may extend to two years, or with fine which may extend to one lakh rupees, or with both.❞

Section 71, Information Technology Act 2000: Penalty for misrepresentation

Information Technology Act 2000

Chapter XI (Offences)

Section 71 (Penalty for misrepresentation)

❝Whoever makes any misrepresentation to, or suppresses any material fact from the Controller or the Certifying Authority for obtaining any licence or electronic signature Certificate, as the case may be, shall be punished with imprisonment for a term which may extend to two years, or with fine which may extend to one lakh rupees, or with both.❞

Sec 70B, Info. Tech. Act 2000: Indian Computer Emergency Response Team

Information Technology Act 2000

Chapter XI (Offences)

Section 70B (Indian Computer Emergency Response Team to serve as national agency for incident response)

❝(1) The Central Government shall, by notification in the Official Gazette, appoint an agency of the Government to be called the Indian Computer Emergency Response Team.

(2) The Central Government shall provide the agency referred to in sub-section (1) with a Director General and such other officers and employees as may be prescribed.

(3) The salary and allowances and terms and conditions of the Director-General and other officers and employees shall be such as may be prescribed.

(4) The Indian Computer Emergency Response Team shall serve as the national agency for performing the following functions in the area of cyber security,–
(a) collection, analysis and dissemination of information on cyber incidents;
(b) forecast and alerts of cyber security incidents;
(c) emergency measures for handling cyber security incidents;
(d) coordination of cyber incidents response activities;
(e) issue guidelines, advisories, vulnerability notes and white papers relating to information security practices, procedures, preventation, response and reporting of cyber incidents;
(f) such other functions relating to cyber security as may be prescribed.

(5) The manner of performing functions and duties of the agency referred to in sub-section (1) shall be such as may be prescribed.

(6) For carrying out the provisions of sub-section (4), the agency referred to in sub-section (1) may call for information and give direction to the service providers, intermediaries, data centres, body corporate and any other person.

(7) Any service provider, intermediaries, data centres, body corporate or person who fails to provide the information called for or comply with the direction under sub-section (6), shall be punishable with imprisonment for a term which may extend to one year or with fine which may extend to one lakh rupees or with both.

(8) No court shall take cognizance of any offence under this section, except on a complaint made by an officer authorised in this behalf by the agency referred to in sub-section (1).❞



.....................................................

Notes:

Section 70B was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Section 70A, Information Technology Act 2000: National Nodal Agency

Information Technology Act 2000

Chapter XI (Offences)

Section 70A (National nodal agency)

❝(1) The Central Government may, by notification published in the Official Gazette, designate any organisation of the Government as the national nodal agency in respect of Critical Information Infrastructure Protection.

(2) The national nodal agency designated under sub-section (1) shall be responsible for all measures including Research and Development relating to protection of Critical Information Infrastructure.

(3) The manner of performing functions and duties of the agency referred to in sub-section (1) shall be such as may be prescribed.❞



........................................................

Notes:

Section 70A was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Sec 70, Information Technology Act 2000: Protected system

Information Technology Act 2000

Chapter XI (Offences)

Section 70 (Protected system)

❝(1) The appropriate Government may, by notification in the Official Gazette, declare any computer resource which directly or indirectly affects the facility of Critical Information Infrastructure, to be a protected system.

Explanation.–For the purposes of this section, “Critical Information Infrastructure” means the computer resource, the incapacitation or destruction of which, shall have debilitating impact on national security, economy, public health or safety.

(2) The appropriate Government may, by order in writing, authorise the persons who are authorised to access protected systems notified under sub-section (1).

(3) Any person who secures access or attempts to secure access to a protected system in contravention of the provisions of this section shall be punished with imprisonment of either description for a term which may extend to ten years and shall also be liable to fine.

(4) The Central Government shall prescribe the information security practices and procedures for such protected system.❞



...........................................................

Notes:

In Section 70, sub-section (1) was substituted and sub-section (4) was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.

Sec 69B, Information Technology Act 2000: Power to authorise to monitor...

Information Technology Act 2000

Chapter XI (Offences)

Section 69B (Power to authorise to monitor and collect traffic data or information through any computer resource for cyber security)

❝(1) The Central Government may, to enhance cyber security and for identification, analysis and prevention of intrusion or spread of computer contaminant in the country, by notification in the Official Gazette, authorise any agency of the Government to monitor and collect traffic data or information generated, transmitted, received or stored in any computer resource.

(2) The intermediary or any person in-charge or the computer resource shall, when called upon by the agency which has been authorised under sub-section (1), provide technical assistance and extend all facilities to such agency to enable online access or to secure and provide online access to the computer resource generating, transmitting, receiving or storing such traffic data or information.

(3) The procedure and safeguards for monitoring and collecting traffic data or information, shall be such as may be prescribed.

(4) Any intermediary who intentionally or knowingly contravenes the provisions of sub-section (2) shall be punished with an imprisonment for a term which any extend to three years and shall also be liable to fine.

Explanation.–For the purposes of this section,–
(i) “computer contaminant” shall have the meaning assigned to it in section 43;
(ii) “traffic data” means any data identifying or purporting to identify any person, computer system or computer network or location to or from which the communication is or may be transmitted and includes communications origin, destination, route, time, data, size, duration or type of underlying service and any other information.❞



..................................................................

Notes:

Section 69B was newly inserted by the Information Technology (Amendment) Act 2008 w.e.f. 27 Oct 2009.