CS Professional · Banking and Insurance - Laws and Practice · Digital Banking
A hacker in Jaipur steals Rs 8 lakh from customers of Bharat Gramin Bank. The Adjudicating Officer under the IT Act has already awarded compensation to the affected customers for the unauthorised access. Which statement correctly reflects Section 77 of the IT Act, 2000?
Under Section 77, compensation, penalty or confiscation under the IT Act does not stop compensation or any other penalty or punishment under any other law in force. So the hacker can still be separately prosecuted under other applicable laws.
- AThe compensation awarded bars any prosecution under the Indian penal laws for the same acts
- BThe compensation awarded under the IT Act does not prevent compensation or other penalty or punishment under any other law in forceCorrect
- CCompensation can be followed by other punishment only if the bank consents
- DOther laws apply only if the IT Act compensation is below Rs 8 lakh
Explanation
Section 77 states that no compensation awarded, penalty imposed or confiscation made under the Act prevents award of compensation or imposition of any other penalty or punishment under any other law for the time being in force. Hence option A is wrong, as there is no bar on other prosecution.
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