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The Delhi Periods Courtroom vide an order pronounced on Friday, March 1, ordered Bloomberg Tv Manufacturing Providers India Pvt. Ltd. (Bloomberg) to take down the defamatory article revealed towards ZEE Leisure Enterprises Ltd. (ZEE) on February 21, 2024.
By means of a swimsuit filed by ZEE, it argued in entrance of the Courtroom that the article revealed by Bloomberg was false and factually incorrect, with a pre-meditated and malafide intention to defame the Firm. The article talked about particulars pertaining to the company governance and enterprise operations of ZEE, which had been inaccurate in nature and led to a 15 per cent drop in share worth of the Firm, eroding investor wealth.
The article by Bloomberg, incorrectly revealed that Securities and Trade Board of India (SEBI) has discovered a $241 million accounting challenge on the Firm; whereas there is no such thing as a such order from the talked about regulator. Regardless of the Firm firmly refuting the identical, the article incorrectly revealed monetary irregularities in ZEE, with out the idea of any order from the regulator.
The counsel for ZEE argued earlier than the Decide throughout a listening to carried out on February 28, 2024, that irreparable loss and damage could also be brought about to the Firm if the injunction as prayed for was not granted. Granting aid to ZEE in a listening to carried out on March 1, 2024, Further District Decide, Harjyot Singh Bhalla pronounced that ZEE has made out a prima facie case for passing advert interim ex-parte orders of injunction. He 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.
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