Zee Delhi court orders Bloomberg to take down 'defamatory' article against Zee
New Delhi/IBNS: A Delhi court Friday directed Bloomberg Television Production Services India Pvt. Ltd to take down a defamatory article published against Zee Entertainment Enterprises Ltd.
According to Zee, the "factually incorrect article" led to a "15 percent drop in share price" of the company.
Presenting its case at the Delhi Sessions Court, Zee argued that the article published by Bloomberg was "false and factually incorrect, with a premeditated intention to defame the company".
The article, published on Feb 21, mentioned details about the corporate governance and business operations of ZEE, which were "inaccurate" and led to a 15 percent drop in share price of the company, eroding investor wealth, it said.
In a big relief to Zee, Additional District Judge Harjyot Singh Bhalla directed Bloomberg to "take down the defamatory article from its platform within one week of receipt of the order".
It also restrained the platform from posting, circulating, or publishing the article on any online or offline platform till the next date of hearing.
The article by Bloomberg, incorrectly published that the Securities and Exchange Board of India (SEBI) has found a $241 million accounting issue at the Company, whereas there is no such order from the mentioned regulator, Zee insisted.
It said that "despite the company firmly refuting the same, the article incorrectly published financial irregularities in Zee, without the basis of any order from the regulator".
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
