Latest News | Delhi Court Directs Bloomberg to Remove Article on Zee Entertainment

New Delhi, Mar 1 (PTI) A city court on Friday directed Bloomberg Television Production Services India Pvt. Ltd. (Bloomberg) to remove a news article published against media major ZEE Entertainment Enterprises Ltd (ZEEL) from its online platform.

A court of Additional District Judge H S Bhalla has directed Bloomberg "to take down the article dated Feb 21, 2024, from online platform within one week of receipt of this order."

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It has further restrained Bloomberg "from posting, circulating or publishing the aforesaid article in respect of the plaintiff on any online or offline platform till the next date of hearing."

The court's direction came over a suit filed by ZEEL against Bloomberg, in which it submitted that the article by Bloomberg has damaged its reputation.

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Bloomberg had published an article titled "India Regulator Uncovers $241 Million Accounting Issue at Zee" which was "defamatory" and was published to malign its image.

ZEEL in a statement said it argued in front of the Court that the article published by Bloomberg was false and factually incorrect, with a pre-meditated and malafide intention to defame the Company.

"The article mentioned details pertaining to the corporate governance and business operations of ZEE, which were inaccurate in nature and led to a 15% drop in share price of the Company, eroding investor wealth.

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," it said.

Despite the Company firmly refuting the same, the article incorrectly published financial irregularities in ZEE, without the basis of any order from the regulator, it said.

Passing a 4-page-long order, the city Court said: "In my view, the plaintiff (ZEEL) has made out a prima facie case for passing ad interim ex-parte orders of injunction, balance of convenience is also in favour of plaintiff and against the defendant (Bloomberg) and irreparable loss and injury may be caused to the plaintiff, if the injunction as prayed for is not granted.."

"In view thereof, defendant no.1 and defendant no.2 are directed to take down the article dated 21.02.2024 (page 84 to 86 of the plaintiff's document) from online platform within one week of receipt of this order," it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)