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The Cyber Adjudicating Officer dismissed Vodafone Idea’s contention that the petition was unmaintainable due to the pending Digital Personal Data Protection Act, 2023. Examination of the bank’s documents revealed that the fraudulent transactions were authorised through OTPs sent to a compromised mobile number, adhering to the two factor authentication system.
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The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction team was led by Yash Ashar, Partner & Head Capital Markets; Abhinav Kumar, Partner & Regional Head Markets Practice (Western Region); with support from Akshay Singh Ralhi, Principal Associate; Jhalak Shah, Senior Associate; Sanjana Ravjiani, Senior Associate; Harshvardhan Lahiri, Associate; Adwait Deshmukh, Associate; Raksha Raina, Associate; Sangram Kokate, Associate; Tanishq Mohta, Associate; Zeb Burk, Associate; and Shivendra Mehndiratta, Associate
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