HOW TO BECOME A CYBER FORENSIC EXAMINER

Introduction
From corporate crimes to murder, computer place a role in nefarious activities either as a target, medium or containing evidence and thus, requiring specialist with a skill in the various technologies and legal knowledge to gather evidence stored digitally. As high profile data breaches such as those that hit Sony, JP Morgan, Home Depot etc. continued to grab headlines, the demand for well trained for computer forensic expert is rising who can conduct the requisite investigation to ascertain the offender and cause of security incident and help to mitigate the damage. With the dynamically changing technologies, the computer […] Continue Reading…

AMENDMENT IN BYE LAWS TO EXTEND LIMITATION PERIOD TO INVOKE ARBITRATION – RETROSPECTIVE OR PROSPECTIVE

Abstract: Whether the amendment in the byelaws of an organization extending the period of limitation has retrospective or prospective effect? What would be their impact as to the time barred claim which subsequently becomes maintainable by virtue of the amendment? Would the said time barred claim maintainable or not would simply depend upon the fact whether the applicant has a substantive right or not. The article discusses this legal issue in the light of judicial pronouncements.

Legal Issue

In the matter of disputes between the member and clients arising from transactions executed between the parties, the law of limitation provides a […] Continue Reading…

DABBA TRADING GOES ONLINE

“Crooks are getting smarter and technology is getting more advanced, and this makes the crook ahead of the police in the game”
The innovation of new technology not only allow to devise the new means of working and after each new advent of technology, it brings advance and easy to use mechanism and tools which allows entities a better control, methods of operation, utilization of human and other resources. But at the same time it allows the fraudster to also exploit these new mechanisms to commit frauds and other economic/cyber crimes. The main drawback is that by […] Continue Reading…

SEBI: STRENGTHEN EFFECTIVENESS AND TRANSPARENCY OF ARBITRAL MECHANISM OF EXCHANGES

Recently, the Indian Stock Market Regulator SEBI has taken some strong measure to strengthen the Arbitration Mechanism available in Stock Exchanges for settlement of disputes vides its circular No. CIR/MRD/DSA/24/2010 of 11/08/2010 & CIR/MRD/DSA /29/2010 of 31/08/2010.
It has been decided that every stock exchange shall maintain its own penal of arbitrators as per number of disputes so as to enable to the arbitrators to handle the arbitration references easily and to dispose off them within the prescribed time limit. The stock exchanges shall ensure that the arbitrators have adequate qualifications and are included in the panel in accordance with […] Continue Reading…

SEBI PREVENTS MISUSE OF POA BY BROKER

On 23/04/2010, SEBI vides it circular no. CIR/MRD/DMS/13/2010 issued new guidelines for Execution of Power of Attorney (PoA) by the Client in favour of the Stock Broker/ Stock Broker and Depository Participant.  Generally, the brokers refused to open online trading/demat account without signing PoA by the client in favour of broker which allows the broker to trade in accounts of the clients without approval/permission/consent of the client. Even, some of them allowed the broker to open/close the account on behalf of the client, transfer funds from the bank accounts of the client, transfer securities of clients for off market […] Continue Reading…

SEBI should promote transparency in bourses by implementing RTI Mechanism

Background
In order to promote transparency and accountability in administration, the Legislature enacted the Right to Information Act, 2005 which came into force on 12 October 2005. The Act empowers Indian citizens to seek information from a Public Authority, thus making the Government and its functionaries more accountable and responsible. The Right to Information Act, 2005 has converted the prevailing culture of secrecy into a culture of openness and transparency in the working of the Government.
The objective of the RTI
The Right to Information Act, 2005 was introduced in the Parliament with an objective to provide information to citizen of India […] Continue Reading…

National Stock Exchange is “public authority” therefore within the purview of RTI Act

The National Stock Exchange of India Limited & Jaipur Stock Exchange filed an appeal in the Delhi High Court against the ruling of the Central Information Commission (CIC) dated 07/06/2007 which held that stock exchange being a quasi governmental body working under the statute and exercising statutory powers has to be held to be a “public authority” within the meaning of section 2(h) of the RTI Act, 2005. The said order directed the stock exchanges including the NSE to put in place a RTI regime in their respective organizations and appoint and notify the Central Public Information Officers and […] Continue Reading…

DHC upheld the time limit of six months for invoking arbitration in Stock Exchange Disputes

In the recent judgment of Delhi High Court in Ashwani Kumar Mittal V’s Vimla Securities Pvt. Ltd, OMP no. 341/2006, Hon,ble Judge Sh. S.N. Dhingra held that ” It is an undisputed fact that the while applying to National Stock Exchange seeking adjudication of its claims, the petitioner had requested for adjudication of his differences with the respondent within the purview of byelaws, rules and regulations of the Stock Exchange. Since respondent was a member of Stock Exchange and the petitioner had invoked the arbitration clause contained in byelaws of the Stock Exchange, the petitioner cannot take a stand […] Continue Reading…

IT Amendment Act, 2008 notified w.e.f. 27/10/2009

The Information Technology (Amendment) Bill, 2008 (Bill No.96-F of 2008) was passed by the both houses of parliament on December, 2008 and received the accent of the president on 5th February, 2009. However, the Amendment Act had not yet come into force and was only for information purpose. However, there was lots of confusion about the date of “Notification” of IT Amendment Act, 2008 as per the requirements of the Section 1 (2) of the same. However, after the wait of almost more than 8 months, the Information Technology (Amendment) Act, 2008 (ITAA, 2008) has been notified with effect […] Continue Reading…

DHC STRUCK DOWN TIME LIMIT OF SIX MONTH FOR INVOKING ARBITRATION IN STOCK EXCHANGE DISPUTES

Arbitration is an alternative dispute resolution mechanism provided by a stock exchange to resolve disputes between the trading members and between trading members & constituents (i.e. clients of trading members), in respect of trades done on the Exchange. This process of resolving a dispute is faster than other means of redressal by civil courts. Arbitration comes under the Arbitration and Conciliation Act 1996. The Act allows two options— conciliation and arbitration. Conciliation is similar to an out-of-court settlement where the parties find acceptable resolution and a stamp of legal finality is marked on the case. Arbitration, on the other […] Continue Reading…