Advocate (Dr.) Prashant Mali's Blog

What’s a Fraud according to Law in India Landmark Judgment of supreme court on Fraud By "fraud" is meant an intention to deceive; whether it is from any expectation of advantage to the party himself or from ill will towards the other is immaterial. The expression "fraud" involves two elements, deceit and injury to the person deceived. Injury is something other than economic loss, that is, deprivation of property, whether movable or immovable or of money and it will include any harm whatever caused to any person in body, mind, reputation or such others. In short, it is a non-economic or non-pecuniary loss. A benefit or advantage to the deceiver, will almost always cause loss or detriment to the deceived. Even in those rare cases where there is a benefit or advantage to the deceiver, but no corresponding loss to the deceived, the second condition is satisfied.  A "fraud" is an act of deliberate deception with the design of securing something by tak

Courts in India {kinds & hierarchy of courts in brief} "But there is one human institution that makes a pauper the equal of a Rockefeller, the stupid man the equal of an Einstein, and the ignorant man the equal of any college president. That institution, gentlemen, is a COURT.”             -Harper Lee, To Kill a Mockingbird. The judiciary in India have wide and immense scope and role in the Justice administration system.Though the constitution of India provides the federal structure in political administration i.e the center and state as a political unit but in respect to the judiciary or the court system the judiciary in India is uniform and in pyramidical or hierarchical manner to administer both Union and State laws. The Hon’ble Supreme Court of India in the highest/top level and the court of Munsif/Civil Judge Junior Division in the lowest/bottom level. The Supreme Court of India is the highest court of appeal and have been entrusted with the widest jurisdiction. The

  Deep Web What it is ?  By Prashant Mali The surface web is the entire Internet for most users, but it represents a fraction of available content. The surface web is that part of the Internet that is accessible by standard search engines, either by indexing, or through use of the site’s IP address. By contrast, the deep web is unfamiliar to most of the public and is larger by orders of magnitude.  Characterised as the submerged part of the iceberg, researchers describe the deep web’s size in various and conflicting ways: over 96 percent of content on the world wide web, unguessable, 7500 terabytes, infinite, and 500x the size of the surface web. Although imprecise, these estimates indicate that the deep web contains much more content than the surface web. Generally speaking, the deep web is the content not indexed by standard search engines, like Google. The only U.S. court that has attempted to define the deep web, described it as follows: "The portion of the We

TAXATION  OF  BITCOIN  AND  OTHER  CRYPTO CURRENCIES IN  INDIA 😊 To understand the tax implications of Cryptocurrencies in India, the following points need to be understood under the context of the Income Tax Act: 1) Business Income - These are the profits and gains received from any business or profession carried on by the tax payer at any time during the Financial Year. It includes 'any' compensation received or other payment due to be received. Further, the compensation may be received in Cash or Kind. 2) Capital Gains - It means any income which has been derived from a 'Capital Asset' (whether movable or immovable) 3) Capital Asset - It means property of any kind held by the taxpayer, whether or not connected with his business or profession. However, this does not include any Stock in Trade Note: Since the cryptocurrencies have not been declared as legal tender by the Reserve Bank of India, these cannot be considered as legal tender (cash) and shall be

Can GDPR Fines be covered under Cyber Insurance coverage in India? By Prashant Mali,  Cyber Law & Privacy Expert. Cyber policies usually grant cover for civil fines provided that these fines are “ insurable at law ”. Where insurance for fines and penalties is available, this is usually as part of an operator’s general liability policy, although, as set out above, there is no general rule and some such policies routinely exclude such cover). In addition, prudent directors of port and terminal operators who are faced with the possibility of personal exposure to civil fines will take steps to ensure that their D&O policy will cover them if they are investigated personally.  Example Policy Terms Insurance coverage is available for fines and penalties. A popular form of cyber insurance includes, as an item of covered loss: [C]ivil fines or penalties imposed by a governmental agency and arising from a Regulatory Action, unless the civil fine or penalty i