In the Adjudicator’s forum in Bangalore, Axis Bank has advanced a mischievous argument that Section 43 of ITA 2008 cannot be invoked by a Company. If this argument is given credence, no company can invoke any offences under Section 66 of ITA 2008 which includes hacking and denial of service etc . Hence Axis Bank cannot file a complaint in Mumbai against the ATM hackers a complaint under Section 66 of ITA 2008.
Since Axis Bank has managed to get the Karnataka High Court endorse this view by implication, the view now has judicial credibility until it is reversed.
It would therefore be interesting if the arrested hackers in Mumbai quote the words of Axis Bank itself in their defense and bind Axis Bank to their own committed position. This will also expose the absurdity of the situation created by Axis Bank in Karnataka to the detriment of all Cyber Crime victims of Karnataka whose cumulative curse should be affecting Axis Bank.
(Please refer to the earlier articles in this site to appreciate the point made here)