Journal of Commerce and Accounting Research

Ashutosh Verma ¹

Affiliations
1 Indian Institute of Forest Management (IIFM), Bhopal.

Abstract

Cyberspace is a time-dependent set of interconnected information systems with no physical boundaries making it extremely complex system to be regulated. Parliament of India enacted the Information Technology Act in the year 2000 with extensive amendments in subsequent years. This paper deals with the legal framework and executive regulatory mechanism under this Act which is relevant for the trade and business operations in India. It analyses the implications of commercial agreements in cyberspace and the requirements to be fulfilled for affixing digital signatures on business agreements and documents. The recent rules framed under the Act aim to tighten the data protection regime in India and ensure the secrecy of the data provided by the customers. It puts the responsibility on the business entities for implementing adequate safety measures against unauthorized access and transmission of personal data. There are provisions for payment of compensation in case of damage to the computer systems and networks. However, in areas like intellectual property rights, the law needs to be strengthened to protect such rights in cyberspace.

Keywords

Cyber Law, Digital Signatures, E-documents, E-governance, Data Protection

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Ashutosh Verma ¹

Affiliations
1 Indian Institute of Forest Management (IIFM), Nehru Nagar Bhopal, Madhya Pradesh, IN

Abstract

With the increasing use of cyberspace for business operations, regulation of data protection has become a pertinent issue. The Information Technology Act 2002,though originally not intended to cover data protection, filled the legal gap on this aspect for both the individuals and the business entities. The Act has been subjected to amendments to tighten the data protection regime in India. The insertion of Section 43A and the issue of Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 aim to protect sensitive personal information and bring the safeguards at par with international standards. The rules put greater responsibility on the corporates to ensure protection of data which is in their possession. Body corporates will have to implement comprehensive security practices and standards for protection of information assets. Information Technology (Intermediaries Guidelines) Rules, 2011 have spelt out the responsibilities of the intermediaries more clearly. However, there is still a long way to bring the entire data protection regime in India at par with global standards.

Keywords

Data Protection, IT Act, Data Theft, Sensitive Information, Data Interception

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