A Delhi court has ordered Bloomberg to take down a defamatory article against ZEE Entertainment Enterprises Ltd. Additional District Judge, Harjyot Singh Bhalla, found ZEE’s case strong and directed Bloomberg to remove the article within a week. Bloomberg is also restrained from sharing the article on any platform until the next hearing.
ZEE argued that the article contained inaccurate information about its corporate governance and business operations, leading to a 15% drop in share price and eroding investor wealth. The company claimed the article was published with a malicious intent to defame it, mentioning a non-existent $241 million accounting issue found by SEBI.
Despite ZEE refuting the claims of financial irregularities, the article falsely accused the company without any basis from the regulator. ZEE’s counsel expressed concerns about potential irreparable loss and injury if the injunction was not granted during the hearing.
The court’s decision to order the takedown of the article comes as a relief to ZEE, which has been fighting against what it calls false and factually incorrect allegations. The company is looking to protect its reputation and investor interest from misleading information being spread by media outlets like Bloomberg.
This case highlights the importance of responsible journalism and fact-checking to prevent unwarranted damage to a company’s image and financial standing. ZEE’s victory in court sets a precedent for media organizations to verify information before publishing potentially damaging content.
