India IT Act 2000, Due Diligence & Intermediary

Opinion 6 Comments

In today’s electronic environment, it is very difficult to predict as to what legal challenges any company or corporation or organization is going to face in the coming times. It is better to be prepared in facing such potential legal challenges, in case if any company or legal entity qualifies as a “network service provider” or “Intermediary” within the meaning of Information Technology Act 2000, as amended by the Information Technology Amendment Act, 2008.

Cyber Due Diligence refers to the process of complying with all the parameters that the existing law has mandated pertaining to generation, transmission, sending, receipt, retention and preservation of electronic records on computer systems and computer networks.

Diligence is the urgent crying need of the hour. This is all the more relevant in India because the law in India has got certain specific responsibilities for due diligence for all legal entities which are doing business activities using computers, computer systems, computer networks, communication devices as also data and information in the electronic form.

With adequate due diligence one can safeguard and prevent his / her / their legal interests, should he / she / they be sued for third party data or information within their network or due to any non-compliance with the mandatory requirements of law. Proactive steps in the direction of diligence is also the backup which any company could rely upon, in the event it is slapped with any litigation, in the event it faces potential criminal consequences and ramifications for activities done on its computers, computer systems and computer networks.

Cyber Due Diligence is your protective armor of the current age, ensuring that your legal entity has got reasonable legal grounds to argue and stand upon in order to defend your legal interests, in the event of your legal entity being sued for civil and criminal consequences. Cyber Due Diligence is the protective gear which any company, corporation on legal entity must wear, when it is dealing with business done using computers, computer systems, computer networks, communication devices as also data and information in electronic form.

Today a variety of stakeholders have got various business operations which could put them in the unique capacity of an “intermediary” or “network service provider”. In case if your company is an “intermediary” or “network service provider”, Cyber Due Diligence becomes the urgent need and medicine that your company needs to take in order to protect itself from unwarranted exposure to potential legal ramifications, both civil and criminal.

Cyber Due Diligence aims to assist your organization in the exercise and implementation of appropriate due diligence within your respective organization.

Vinay has been interested in writing since his college days. Having joined a reputed banking institution he published regular daily internal briefings, monthly & quarterly magazines on how technology influences banking. Vinay has now taken to full time writing and has interests in business, corporates, and enterprises. Vinay has been actively involved in shaping up the overall content of ParityNews.com

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