S Umashankar Vs ICICI Bank was a historic adjudication decision of the Adjudicator of Tamil Nadu in decided in 2010 (Complaint filed in 2008). The award had held ICICI Bank liable to pay compensation to the customer because the Bank was negligent and caused the loss despite the incident also involving a phishing element.
The Bank had appealed against the order with Cyber Appellate Tribunal (CyAT). Unfortunately, just before the judgement to be given in CyAT, the then Chairman attained superannuation in June 2011 and the operations of CyAT stopped completely. Two successive Governments could not find a replacement for the chairman until in 2017, CyAT was merged with TDSAT.
TDSAT reopened the proceedings on 31st July 2018 and yesterday the 10th January 2019, pronounced the judgement upholding the Adjudication order though it reduced a part of the compensation granted by the AO on expenses account.
With this a 10 year fight for justice of a Cyber Crime victim appears to have reached a decisive stage though the mop up operations by way of execution of the decree need to be completed.
[Update: A review had been filed on the decision as regards the interest payable for the intervening period since the adjudication order upto the TDSAT order. The order dated 3rd April 2019, provided the interest relief. Watch for further updates if any.]