The Bombay HC recently rejected the petition of ICICI Bank seeking stay on the order of adjudicating officer for payment of compensation to two persons who had lost a total of `5.41 lakh in an online phishing attack. Ramdas Pawar and Sourabh Jain, both residents of Pune, had moved the special court of adjudicating officer, Maharashtra, in 2011 for compensation. In September-October 2010, `3.39 lakh were illegally transferred from the accounts of Mr Pawar. Similarly, Mr Jain had lost `2.02 lakh in October 2010. Mr Pawar had an account with the Bank’s Bund Garden Road branch while Mr Jain had an account in the Shivajinagar branch. Both of them had lodged police complaints but the accused remained untraceable. “The case should have been against the beneficiaries of the transaction and not the bank,” the bank’s counsel argued. In February this year, the adjudicating officer passed the order in complaints favour and ordered the bank to pay `1.5 lakh to Mr Jain and `3 lakh to Mr Pawar.