Tribunal chairperson Justice Dhirubhai Naranbhai Patel and member Sanjeev Banzal said, in their September 10 order, that the appellants had established a prima facie case and refusing a stay would cause irreparable loss
Mumbai: The Telecom Disputes Settlement and Appellate Tribunal has stayed an August 11 order directing IDFC First Bank Ltd and others to pay Rs 57.06 lakh with 12% annual interest to a Vile Parle company for unauthorised transfers to third-party beneficiary accounts. On August 11, Virendra Singh, secretary of Electronics, Information Technology and Artificial Intelligence Department, as adjudicating authority under the Information Technology Act, 2000, held the bank liable under Section 43A for failing to maintain reasonable security practices and ordered it and others to pay Rs 57.06 lakh with interest to the firm. The bank recovered Rs 68.94 lakh, leaving Rs 57.06 lakh unrecovered.
The bench further said that the bank deposits the principal amount with the tribunal registrar within eight weeks. The deposit will not constitute an admission of facts and will be adjusted against the appellants’ final liability, if any, the order said. But the authority said the bank had not produced complete original emails, authentication and server logs, audit records, internal approval trails or maker-checker verification records.
The firm discovered them after reopening following Diwali and sought stoppage, recall, and reversal before complaining to Juhu police. The bank denied negligence, saying the requests came from the firm’s registered email address with matching particulars and signatures. You Can Also Check: Gold Rate in Mumbai | Silver Rate in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai | Mumbai AQI | Weather in Mumbai | Petrol Price in Mumbai | Diesel Price in Mumbai | CNG Price in Mumbai | LPG Price in Mumbai