LEGAL ISSUES PERTAINING TO

BUSINESS
1. Manjeeth Vs National insurance Company
Manjeeth Singh had purchased a second – hand truck under a Hire Purchase
agreement. The vehicle was insured by the National insurance company. The truck
was stolen and ordered the ground of breach of terms of the policy. The complainant
case was rejected by all the consumer forums and finally approached the Supreme
Court. The Supreme Court held that the appellant was not at all in fault. The
Supreme Court directed the National insurance company to pay 75% of the insured
amount with 9% interest p.a. and Rs.100000 as compensation.

CONSUMER PROTECTION ACT

2. Ban On 59 Chinese Application

On 29th June 2020, India banned 59 Chinese apps and under section 69a of IT Act the
famous TikTok was also banned as by reasoning that it is threat to national security
and has cause disturbance in one’s personal privacy . Data breach, Security of
Citizens, Privacy concerns etc. can be against the national interest of the country.
They are capturing data and storing it in foreign country.
On August 5, Court to ban all 59 Chinese Application listed under IT Ministry.

INFORMATION TECHNOLOGY ACT 2000

3. PMS Bank Scam

The crux of this bank fraud is that the higher management of the PMC bank has
given huge loan to HDIL. The Economic Offences Wing (EOW) of Mumbai Police
registered a FIR on the alleged fund diversion at PMC Bank that had led the RBI to
restrict withdrawals by depositors. According to the FIR, the amount involved in the
alleged irregularities has been pegged at Rs. 4,355.46 crore but that could go up
during the course of probe.
The case was filed against erstwhile chairman Waryam Singh, managing director Joy
Thomas. Bombay High Court ordered to arrest Mukti Bavisi, Trupti Suhas Bane and
Ranjeet Tara Singh Nandrajog.

FRAUD