NEW DELHI: A Delhi Sessions Court has ordered Bloomberg Television Production Services India to take away an article revealed in opposition to Zee Entertainment Enterprises on February 21 after the latter argued that the article was “false and factually incorrect, with a premeditated and malafide intention to defame the company.”
“Consequent to the publishing of the article, the company and its investors have suffered economically, in as much as, the stock price of the company fell by almost 15% because of the circulation of the defamatory material,” mentioned Zee in an announcement.
“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. Despite the company firmly refuting the same, the article incorrectly published financial irregularities in Zee, without the basis of any order from the regulator,” the Zee assertion learn.
The counsel for ZEE argued earlier than the choose that irreparable loss and harm could also be induced to the corporate if the injunction as prayed for was not granted.
Granting reduction to ZEE in a listening to performed on 1st March 2024, Additional District Judge, Harjyot Singh Bhalla pronounced that ZEE has made out a prima facie case for passing advert interim ex-parte orders of injunction.
The choose directed Bloomberg to ”take down the defamatory article from its platform inside one week of receipt of the order,” additional restraining the platform from posting, circulating or publishing the article on any on-line or offline platform until the following date of listening to.
