E-Commerce Laws In India Needed

E-commerce has its origin in foreign jurisdictions especially in developed nations like United States. These jurisdictions have proper laws and adequate infrastructure to cater the needs of e-commerce stakeholders. This has helped these stakeholders in not only complying with the laws of these jurisdictions but also in contributing towards the economy of these jurisdictions.

E-commerce in India is a totally different class. It has all the advantages of profit making and commercial viability but is neither regulated by any dedicated e-commerce law nor is it contributing towards the economic and social growth of India. 

Legal provisions pertaining to foreign direct investment (FDI), foreign exchange management act (FEMA), national taxation laws, cyber law due diligence (PDF), cyber security due diligence, e-commerce due diligence, etc are openly ignored in India. In some instance, enforcement directorate (ED) has also initiated investigation against big e-commerce players like Myntra, Flipkart and many more e-commerce websites operating in India. Many stakeholders have also protested against the unfair trade practices and predatory pricing tactics of Indian e-commerce websites.

The matter has reached to the level of Indian government that has also promised to look into the matter and draft suitable e-commerce law of India, if required. The alternative approach that can be adopted by Indian government is to amend the Information Technology Act, 2000 (IT Act 2000) to accommodate e-commerce related issues.

We at Perry4Law believe that a dedicated e-commerce law of India is urgently required and Indian websites must be suitably regulated. Indian government must also formulate a techno legal framework to take care of complicated technology related legal issues in India. Amending the IT Act 2000 to accommodate e-commerce related issues is not a very good option in this regard and must be the last choice.

Cyber Security Issues Of E-Commerce Business In India

E-commerce business is flourishing at a great speed in India. Most of the e-commerce entrepreneurs are concentrating upon commercial aspects with an eye upon profit motive. In this race they are ignoring techno legal requirements that may affect their rights in the long run.

For instance, e-commerce laws in India are spread across multiple legal frameworks and they are seldom followed by Indian e-commerce stakeholders. Even foreign e-commerce players and portals are required to be registered in India and comply with Indian laws.

Similarly, e-commerce players are required to comply with cyber law and cyber security regulatory compliances in India. A dedicated law for cyber security breaches disclosures is also in pipeline that would impose stringent obligations upon e-commerce players operating in India. Companies that would fail to comply with the cyber law due diligence requirements in India may be punished according to Indian laws.

The cyber security challenges for Indian companies are very difficult to manage in the absence of proper planning and management. Directors of Indian companies and e-commerce websites can be held liable for improper cyber security dealings in India.

Thus, cyber security issues of e-commerce businesses in India cannot be ignored by various stakeholders except at the risk of litigations and heavy monetary compensations. 

E-Commerce Websites In India Must Be Regulated By Indian Government

An ineffective cyber law of India and lack of cyber law skills among the law enforcement agencies of India is resulting in increased cyber crimes and offences through the medium of e-commerce websites in India. Further, cyber law awareness in India is also missing that is resulting in increased e-commerce frauds in India.

In these circumstances, e-commerce websites frauds, offences and crimes in India have increased a lot. For instance, the e-commerce sites selling adult merchandise in India are openly violating the laws of India. Similarly, e-commerce websites in India are engaging in punishable soft porn publication and Indian government is sleeping over the matter.

There are well recognised legal requirements to start an e-commerce website in India and the legal formalities required for starting e-commerce business in India. As on date, the e-commerce websites are not following such techno legal requirements. They are also not following the cyber law due diligence requirements of India and are liable for Internet intermediary liability in India.

E-commerce websites dealing with online pharmacies, online gamming and gambling, online selling of adult merchandise, etc are openly and continuously violating the laws of India, including the cyber law of India. However, India government has yet to take action against these offending e-commerce websites of India.

Fortunately, the Supreme Court of India is taking some action in this regard. Recently, the Supreme Court of India has sought response from central government over blocking of porn website sin India.  Similarly, the Supreme Court of India has entertained a public interest litigation seeking regulations and guidelines for effective investigation of cyber crimes in India.

The cyber law of India is too weak to tackle cyber criminals effectively. In fact, cyber law of India should be repealed and an effective cyber law must be formulated as soon as possible. The cyber criminals are becoming innovative day by day and our laws are grossly inadequate to deal with the same.

For instance, numerous websites, both Indian and foreign, are violating the cyber law of India by operating illegal e-commerce websites in India. These websites are engaging in illegal trade in wildlife, promising home delivery of live animals, prized animal parts and rare medicinal plants from across nations through simple internet banking formats.

These are transnational crimes where the authorship attribution for cyber crimes is very difficult to establish. Realising this reality, the India's wildlife crime control bureau (WCCB) is utilising the services of cyber crime experts to trace such cyber criminals. A preliminary inquiry by WCCB bureau's cyber crime specialists has indicated that nearly a thousand websites are advertising sale and delivery of live animals and animal products protected under the Wildlife Protection Act, 1972 of India and the global convention on international trade in endangered species (CITES). 

Surprisingly, most of these websites are popular shopping websites, online classifieds and free ad posting websites, etc. They are clearly violating the cyber law and other laws of India and Indian government is not taking any action against these websites. It is high time to take strict penal action against such illegal e-commerce websites in India.

Telemedicine Laws In India

There is no second opinion about the fact that when technology is used for medical purposes, it gives rise to medico legal and techno legal issues. Countries around the world have realised this fact and they have made suitable laws to tackle these medico legal and techno legal issues.

For instance, in United States, the Health Insurance Portability and Accountability Act of 1996 (HIPAA), Health Information Technology for Economic and Clinical Health Act (HITECH Act), etc are some of the laws that take care of medico legal and techno legal issues of e-health and telemedicine.

On the other hand, we have no dedicated telemedicine laws in India. Issues like online sales of prescribed medicines in India, digital communication channels for drugs and healthcare products in India,  online sales and purchase of prescribed drugs and medicines in India, etc are still vague and confusing.

E-health laws and regulations in India are still missing and legal enablement of e-health in India is needed on an urgent basis. As on date e-health in India is facing legal roadblocks. Till now we do not have any dedicated e-health laws and regulations in India.

At Perry4Law Organisation and Perry4Law’s Techno Legal Base (PTLB) we firmly believe that dedicated telemedicine laws of India must be urgently formulated.

This is more so when there are many people and institutions in India that are using Internet in an illegal manner for selling medical products and services. Illegal and unregulated online sales of prescribed medicines in India are rampant and Indian government has still not regulated or controlled these online sales of medicines in India, especially in the NCR region.

Similarly, there are some medical professional and para medical professional who are using Internet for providing their services without following the applicable laws of India. There are also many online pharmacies in India that are violating Indian laws, especially the e-commerce laws and regulations of India.

It is high time for Indian government to regulated Internet related medical issues in India before they become a big nuisance and health hazard for Indian citizens and residents.

Source: P4LO Blog.

Is Online Gambling And Betting Legal In India?

As a leading techno legal ICT law firm of India, Perry4Law is frequently approached for numerous techno legal issues. One of them pertains to e-commerce laws and regulations in India.

Recently many queries have been raised about the applicable online gambling laws and regulations in India.  We have also observed that e-commerce legal compliances in India are not followed in true letter and spirit. This may be due to lack of knowledge about applicable e-commerce laws but ignorance of laws is no excuse.

If e-commerce players do not follow the laws of the land, they may found themselves in uncomfortable situations. For instance, cyber law due diligence, Internet intermediary liability and cyber due diligence for Indian companies are some of the issues that have been ignored by almost all e-commerce players of India.

Coming back to the burning issue whether online gambling and online betting is legal in India or not? We have already covered the legality of online gambling and betting in India and other e-commerce compliance requirements in India but we would briefly cover the same once again.

The golden rule for deciding whether online gambling in India is legal or nor has to be judged by many factors that depends upon the facts and circumstances of each case and upon state to state. There are many states in India where gambling is legal and few where even online gambling and betting is legal. However, there are some states like Mumbai where online gambling is expressly prohibited and made a punishable offense. So it depends upon the state where you wish to carry the online gambling and betting business.

Then there is the rule of skills versus chance as laid down by the courts of India. As a general rule, where the game involves application of skill on the part of the player and the element of chance is minimal, the activity would be considered to be a game and not an act of gambling. However, the applicability of this test of skill versus chance may not be applicable to online or Internet games, betting and gambling as various judicial decisions pertaining to different sets of facts and circumstances and can be distinguished easily in subsequent litigations.

Finally, economic and taxation legislations like tax laws of India, anti money laundering laws, etc are also involved while operating online casinos, online gambling and betting and online gamming platforms.  The provisions of these economic legislations are very stringent in nature and can cause great detriment to the owner or operator of the online casino, gambling and betting website.

To be on a safer side, it is better to comply with various techno legal laws of India while opening an online gambling, gaming and betting platform rather than facing the punitive provisions of Indian laws.

E-Commerce Compliances In India

E-commerce is the latest entrepreneur bandwagon in India. Thousands of e-commerce portals have emerged during the year 2012. However, in the zest of earning profit, legal and compliance requirements pertaining to e-commerce have been totally ignored by almost all the e-commerce portals.

The most vulnerable categories that have opened their online shops pertain to online pharmacies, online gambling and gaming, electronics, etc. These e-commerce portals are not at all complying with the respective laws of these segments.

Even the Indian government is lax in implementing the regulatory and compliance requirements against these illegal online pharmacies, gambling portals and other similar e-commerce platforms.

This has posed serious threat to not only lives of millions but also to the socio-economic and law and order situation n India. Regulatory bodies covering these fields must be more vigil while keeping a tab upon illegal and unethical activities of those e-commerce portals that are flouting the laws of India.  

There are many techno legal compliance requirements that e-commerce portals of India must comply with. At Perry4Law and Perry4Law’s Techno Legal Base (PTLB) we believe that cyber law due diligence, Internet intermediary liability and cyber due diligence for Indian companies must be kept in mind by various e-commerce websites and players.

Presently, cyber law compliances, due diligence and techno legal compliances are not followed by various e-commerce websites in India. There is an urgent need to scrutinise these e-commerce portals and prosecute the guilty for violations of Indian laws.

It would amount to adoption of double standards by Indian government if it plays harsh upon foreign companies but leaves Indian companies and e-commerce portals untouched. Let us hope Indian government would do the needful in this regard as soon as possible.

Online Gambling Laws And Regulations In India

Online gambling in India has aroused great interest among many e-commerce entrepreneurs of India. This is because online gambling is a very remunerative and profit oriented business. However, online gambling is also a complicated business filed as many laws and technical issues have to be resolved at the same time.

We have a central law on gambling called the Public Gambling Act of 1867. Similarly, we have many state laws on gambling that are mostly based upon the central law. Further, almost all the state laws are regulating real world or offline gambling in India. The exception in this regard can be found in the laws applicable in places like Goa and Sikkim.

Recently Goa has made its casino laws very stringent keep in mind the money laundering, black money and tax evasion issues in mind. Similarly, Sikkim is also in the process of harmonising its laws with the central laws.

As far as judiciary is concerned, the Supreme Court of India has made a distinction between skills based and chance based gaming activities. Of course, each case depends upon its own facts and circumstances and the respective state law and we cannot apply one decision uniformly in all cases of gambling and online gambling. 

The e-commerce laws and regulations in India are still at the infancy stage. As a matter of fact, a majority of e-commerce portals and players in India are not following the laws of the land in true letter and spirit. Surprisingly, there is a general misconception among the e-commerce players of India that for running an e-commerce website in India they need not to follow much law. On the contrary, there are well recognised legal requirements to start an e-commerce website in India and the legal formalities required for starting e-commerce business in India.

The chief among these e-commerce players are online pharmacies, online gambling and gaming portals, electronics e-commerce websites, etc. They fail to understand that use of technology has brought additional legal issues that are primarily techno legal in nature. Their continued ignorance may bring civil, criminal and financial penalties. The recent spate of FDI crackdowns by India government proves this point.

At Perry4Law and Perry4Law’s Techno Legal Base (PTLB) we believe that cyber law due diligence, Internet intermediary liability and cyber due diligence for Indian companies must be kept in mind by various e-commerce websites and players. The skill and chance and state subject legal arguments are not sufficient to comply with complicated techno legal requirements of India as on date. So before launching an e-commerce portal, the concerned person or company must make it sure that techno legal requirements are duly complied with.

Online Pharmacies In India Are Violating Indian Laws

Online sales of prescribed medicines in India are by and large unregulated and open for abuses. In fact, illegal and unregulated online sales of prescribed medicines in India are flourishing like a plague. However, Indian government is sleeping over the issue not realising that this may have adverse impact upon public health of serious proportions.

In real world, those manufacturing, distributing and selling pharmaceutical products and services are subject to stringent laws and regulations. However when it comes to online dealings, people assume that they are not required to follow those laws at all.

Even the Indian government is not very comfortable with technology related issue of various segments. This is the reason why there is minimum interference and control over the flourishing online pharmacies of India as Indian government has not the necessary techno legal expertise to effectively tackle e-commerce issues of pharmaceuticals as on date. 

While dealing with pharmaceuticals in an online environment not only the regular laws pertaining to drugs, medicines and pharmaceuticals are applicable but the cyber law of India is also attracted. However, governmental departments are not much aware about cyber law of India and its implications. Naturally, online pharmacies are flourishing in India without any check and balances.

It is high time for Indian government to take stringent action against the online pharmacies that are operating in India in an unregulated and illegal manner.

E-Books Publication Laws In India

These days a common question that is frequently asked is will e-books kill the bookstores in India? This genuine and interesting question is asked because the e-books publications in India and e-commerce industry are fast becoming popular.

India is encouraging use of information and communication technology (ICT) and this has opened new avenues for the education sector of India. Foreign players have also realised the potential of e-commerce and e-books in India which is emerging as the largest market for e-books in the world.

However, in the zest of earning profits, Indian laws in general and e-commerce laws and regulations of India in particular must not be forgotten. As a matter of fact, Indian government would ascertain beneficiary in Walmart probe. This shows that any intention to flout Indian laws is a real bad idea especially if e-commerce market f India is to be captured.

The legal formalities required for starting e-commerce business in India are now well known. However, legal issues in e-commerce in India are still not clear to many national and international e-commerce business houses and entrepreneurs. For instance, the legal requirements to start an e-commerce website In India are covered by many legislations including information technology act, 2000 (IT Act 2000). However, both national and international e-commerce players are not complying with legal issues of online shopping in India.

FDI in wholesale trading and e-commerce sectors of India under consolidated FDI policy of India 2012 was given a major boost by Indian government. Further, the Parliament of India recently approved FDI in e-commerce sector of India. Thus, it is high time for structuring of investments in e-commerce businesses in India.

Perry4Law and Perry4Law’s Techno Legal Base (PTLB) suggest that e-commerce business houses must keep in mind the specified requirements of cyber due diligence for Indian companies.  Many companies have already found themselves on the wrong side of Indian laws for violating the same. There is no sense in ignoring Indian laws by e-books publishers and distributors when they wish to trap the Indian e-commerce market. 

Source: Legal Enablement Of ICT Systems In India.

Indian Government Would Ascertain Beneficiary In Walmart Probe

In the past a probe against Walmart was ordered by Indian government to ascertain any market access lobbying and foreign direct investment (FDI) violations. However, the mandate of this probe was still not clear.

Now as per media reports the probe against Walmart may include ascertainment of the alleged beneficiaries of the payments made while engaging in industrial lobbying. As per the company the lobbying was made in US for the purposes and territorial jurisdictions of US alone. The company has alleged that it did not utilise any portion of the amount for its Indian business.

The crucial question that has to be ascertained by the investigation officer is whether any portion of the lobbying expenses have been utilised in India and used for the purposes of influencing the decision on FDI by Indian government.

 If it is found that Indian entities or individuals were involved in the alleged lobbying expenses then the other terms of reference that are being finalised would be looked at. The government would also look at possible violations of Indian laws including the Prevention of Corruption Act. The Enforcement Directorate is also investigating separately if Walmart has violated the provisions of the Foreign Exchange Management Act by investing in an Indian entity even before foreign direct investment was allowed in the sector.

As on date many e-commerce companies, whether Indian or international, are not complying with e-commerce laws and regulations of India as well. Legal experts have been suggesting that e-commerce regulations must also be enforced rigorously against both national and international e-commerce players.

E-Books Publication In India And E-Commerce Industry

E-commerce in India is flourishing. However, many e-commerce players have entered into the arena without much planning, preparation and keeping in mind the legal compliance aspect in mind. Naturally, many of the e-commerce ventures started in the year 2011 have closed down.

Further, consolidation of e-commerce industry of India is also in progress. Many small e-commerce projects have been acquired by larger e-commerce players to consolidate e-commerce segment for their respective industry.

FDI in wholesale trading and e-commerce sectors of India under consolidated FDI policy of India 2012 was given a major boost by Indian government. Further, the Parliament of India recently approved FDI in e-commerce sector of India. Thus, it is high time for structuring of investments in e-commerce businesses in India.

The most important aspects that both national and international e-commerce players must keep in mind is that business structuring of e-commerce in India must be done in a techno legal manner.

The legal formalities required for starting e-commerce business in India are now well established. However, legal issues in e-commerce in India are still not clear to many national and international e-commerce business houses and entrepreneurs. For instance, the legal requirements to start an e-commerce website In India are covered by many legislations including information technology act, 2000 (IT Act 2000). However, both national and international e-commerce players are not complying with legal issues of online shopping in India.

One segment that has tremendous potential in e-commerce industry pertains to educational and books publication sector. Traditional and print form books have dominated market share for long. However, there is a gradual shift towards e-books publication, distribution and e-commerce.

Asian countries, especially India, can offer great commercial benefits to book publishers if they explore e-books publication and distribution in India. However, while doing so these e-book publishers must keep in mind the techno legal requirements that most e-commerce players in India are presently ignoring.

Perry4Law and Perry4Law’s Techno Legal Base (PTLB) suggest that e-commerce business houses must keep in mind the specified requirements of cyber due diligence for Indian companies.  Many companies have already found themselves on the wrong side of Indian laws for violating the same. There is no sense in ignoring Indian laws by e-books publishers and distributors when they wish to trap the Indian e-commerce market. 

Techno Legal Initiatives Of Perry4Law And PTLB

Techno legal issues pose special challenges before all nations. This is so because these issues are complex combination of both technical and legal issues. At Perry4Law and Perry4Law Techno Legal Base (PTLB) we have been spearheading many world renowned techno legal initiatives.

For instance, Perry4Law and PTLB are managing the exclusive techno legal centre of excellence for cyber forensics in India, centre of excellence on cyber security in India, virtual legal education campus in India and techno legal e-learning centre of PTLB, lifelong techno legal education in India, legal enablement of ICT systems in India, etc.

Similarly, on the education, trainings and skills development front as well Perry4Law and PTLB have been managing many initiatives. For instance, the exclusive techno legal e-learning in India is managed by PTLB whereas highly specialised and domain specific trainings and education is managed by Perry4Law techno Legal ICT Training Centre (PTLITC).  

Perry4Law and PTLB are also managing the exclusive techno legal e-courts consultancy and training centre of India, online dispute resolution services in India, e-discovery services in India, e-commerce services in India, cyber forensics services in India, cyber security services in India, LPO and KPO services in India, etc.

We are also discussing important issues pertaining to international ICT policies and strategies. Similarly, techno legal issues are specifically discussed at PTLB blog. We hope these initiatives would prove useful to all stakeholders.

Source: ICTPS Blog

Expiring Medicines Patents Could Boost Pharmaceutical E-Commerce In India

Indian pharmaceutical industry is moving towards a maturity level. This is more so regarding the generic pharmaceutical industry of India. Good news for generic pharmaceutical industry of India is that the patent rights of many world renowned drugs and medicines are set to expire till 2017. This would give a free hand to generic drugs companies to produce and sale generic medicine in India and world wide.

Nothing can improve the reach of the generic medicines manufacturers of India than utilising the e-commerce platforms. However, these e-commerce platforms and websites must comply with Indian laws to fully encash the benefits of e-commerce.

The legal formalities required for starting e-commerce business in India must be duly complied with to escape various civil and criminal liabilities. This is more so regarding pharmaceutical industry where the risks and stakes are really high.

Legal issues of e-commerce in India vary as per different business models. For instance, electronic trading of medical drugs in India requires more stringent e-commerce and legal compliances as compared to other e-commerce activities. Digital communication channels for drugs and healthcare products in India are scrutinised more aggressively than other e-commerce activities. In fact, regulatory and legislative measures to check online pharmacies trading in banned drugs in India are already in pipeline.

As per the latest reports, the patent expiry of several major well known drugs, coupled with other factors, will fuel growth of global generic pharmaceuticals market by 2017. If this scenario is supported by suitable health policies and equitable distribution of medicines, India can be a hub for global generic medicines production.  

In fact, leading global generic pharmaceutical manufacturers are already entering into contractual agreements with well known pharmaceutical companies for marketing rights and exclusivity in producing generic versions of their medicines. E-commerce can provide a viable platform to sell these generic medicines across the world.

Legal Requirements To Start An E-Commerce Website In India

We have been receiving lots of queries regarding successful and legal opening of e-commerce business in India. We have already explained the legal formalities required for starting e-commerce business in India. In this article we would discuss the legal requirements for starting an e-commerce websites in India.

To start with, we would like to say that we have no dedicated e-commerce laws and regulations in India and they are still evolving. The Information Technology Act 2000 (IT Act 2000) governs the online issues of e-commerce in India.

IT Act 2000 is the sole cyber law of India. The cyber law of India mandates that the e-commerce entrepreneurs and owners must ensure cyber law due diligence in India. The cyber law due diligence for companies in India has already become very stringent and many foreign and Indian companies and websites have been prosecuted in India for non exercise of cyber due diligence.

E-commerce entrepreneurs and owners in India must understand that legal issues of e-commerce in India are different for different categories of e-commerce. For instance, electronic trading of medical drugs in India requires more stringent e-commerce and legal compliances as compared to other e-commerce activities. Digital communication channels for drugs and healthcare products in India are scrutinised more aggressively than other e-commerce activities. In fact, regulatory and legislative measures to check online pharmacies trading in banned drugs in India are already in pipeline.

The legal requirements for undertaking e-commerce in India also involve compliance with other laws like contract law, Indian penal code, etc. Further, online shopping in India also involves compliance with the banking and financial norms applicable in India. For instance, take the example of PayPal in this regard. If PayPal has to allow online payments receipt and disbursements for its existing or proposed e-commerce activities, it has to take a license from Reserve Bank of India (RBI) in this regard. Further, cyber due diligence for Paypal and other online payment transferors in India is also required to be observed.

Perry4Law and Perry4Law Techno Legal Base (PTLB) recommend that all e-commerce entrepreneurs and owners must do a proper techno legal due diligence before opening an e-commerce website. The Internet intermediary liability in India may be frequently invoked against e-commerce websites in India. The Information Technology (Intermediary Guidelines) Rules 2011 prescribes stringent liabilities for e-commerce websites in India. Further, e-commerce websites in India must ensure privacy protection, data protection, data security, cyber security, confidentiality maintenance, etc as well.

Regulatory And Legislative Measures To Check Online Pharmacies Trading In Banned Drugs In India

Online pharmacies are flourishing world over including India. The Indian market share of online pharmacies has been increasing thanks to the growing use of Internet in India. However, this has also created legal and medico legal problems as well.

We have no dedicated e-commerce laws and regulations in India. Further, we also do not have any dedicated e-health laws and regulations in India. In fact, e-health in India is facing legal roadblocks and in the absence of regulatory and legislative measures, online pharmacies are growing unregulated. In the present circumstances, the legal enablement of e-health in India is urgently required.

However, even more grave are the concerns originating out of the use of e-trading for medical and non medical drugs in India. E-trading of medical drugs in India must be undertaken only after complying with the laws of India. There are many cyber laws due diligence requirements in India that e-traders of medical drugs in India must comply. Similarly, foreign websites targeting India for this purpose must also comply with Indian law in order to do legitimate business in India.

There are many online pharmacies that are trading in banned drugs in India as well. Realising the potential dangers arising out of the same, the Indian government has recently constituted a high-level committee to suggest regulatory and legislative measures to check online pharmacies trading in banned drugs in India.

The committee has been set up under the Narcotics Control Bureau (NCB) of India to check such sale of banned drugs in India and to prevent black money and finances criminal activities through online transactions. The committee has been constituted as a part of the new drugs policy recently revealed by Finance Minister Pranab Mukherjee.

However, online pharmacies are by their very nature technology driven. So the approach of Finance Ministry must be techno legal in nature. Fortunately the committee has proposed to establish “cyber patrol units” to intercept syndicates and individuals indulging in such criminal activities over the Internet.

Another good aspect of the proposed legislative initiative is the proposal to route and inspect international mail (containing contraband couriers) while ensuring active cooperation and exchange of information with other enforcement agencies like CBI, DRI and ED, within the country.

Perry4Law and Perry4Law Techno Legal Base (PTLB) welcome this move of Finance Ministry and proposed committee and we wish all the best to them in this regard.