See that cautionary PDF provided by Perry4Law. They haven't even spared Aadhar as well
(See point- 18)http://ptlb.in/ccici/wp-content/uploads/2013/12/Cyber-Law-Trends-And-Developments-Of-India-2013.pdf
Some highlights
(3) Telecom Companies Violations:
Tata Teleservices Limited (TTL) and Airtel are Violating Indian Cyber Law and Internet Intermediary Rules of India. Complaints against Tata and Airtel are already pending before the Department of Telecommunication and
Telecom Regulatory Authority of India (TRAI)
(4) Corporate Frauds In India:
Corporate Frauds Investigations in India have become multi disciplinary in nature. Besides the traditional corporate frauds, now Cyber Crimes and Technology Frauds have also become part of Corporate Frauds Investigation in India
(8 ) E-Commerce Compliances:
Websites providing E-Commerce services in India are not complying with Indian Laws. The e-Commerce Websites must be regulated in India as they are operating with great disregard to Indian Laws. Although Indian Government has assured that E-Commerce in India would be regulated by comprehensive guidelines yet till date no such sign has been shown by the Government.
(9) Legality Of Bitcoins:
The Bitcoin craze has finally started fading away as the Reserve Bank of India (RBI) issued a Warning Advisory against use of Bitcoins in India citing Cyber Security and Legal Risks. The Enforcement Directorate (ED) also searched Seven Digital Cash LLP office and website for selling and buying Bitcoins in India. The Legality of Bitcoins in India was always in doubts. Many countries like China, France,Thailand,Norway, etc have either regulated the use of Bitcoins or they have completely banned them in their jurisdictions
(10) Conflict Of Laws In Cyberspace:
Another problem that Indian Government is not willing to resolve pertains to Conflict of Laws in Indian Cyberspace. For long Companies like Google, Facebook, etc are violating Laws of India . Indian Government has not taken a tough stand against such Foreign Companies that although operating in India for profit yet are not complying with Indian Laws. For instance, G-Mail is abetting and encouraging commission of various Cyber Crimes in India yet Indian Government has allowed it to operate so far.
(18) E-Surveillance In India:
E-Surveillance in India has increased tremendously despite the UN Resolution. India has launched Illegal and Unconstitutional Projects like Aadhar, Central Monitoring System (CMS), national Intelligence Grid (Natgrid), crime And Criminal Tracking Networks and Systems (CCTNS), Internet Spy System Network And Traffic Analysis System (NETRA) , etc without any Parliamentary Oversight and Legal Frameworks. E-Surveillance, Civil Liberties Protection in Cyberspace and Conflict of Laws are some of the crucial issues that United Nations and India must consider on a priority basis.