All posts tagged: Bloomberg

Bloomberg moves Delhi HC against Saket court order over article on Zee

Published by Webster

The Bloomberg Television Production Services India Private Limited on Wednesday moved the Delhi High Court challenging the order of the Saket district court directing it to take down an article titled “India Regulator Uncovers USD 241 Million Accounting Issue at Zee” published on February 21 from its website. The matter was presented before the bench headed by Acting Chief Justice Manmohan and Justice Manmeet Pritam Singh Arora for urgent listing by Senior Advocate Rajiv Nayar. The bench agreed to hear the matter on Thursday. The article claimed that the Securities & Exchange Board of India (SEBI) had apparently “found a discrepancy of more than USD 240 million in the accounts of Zee Entertainment Enterprises Ltd”. The Saket Court on March 1 stated that the plaintiff/Zee has made out a prima facie case for passing ad interim ex-parte orders of injunction, the balance of convenience is also in favour of the 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. …

Delhi Court Orders Bloomberg To Remove Defamatory Article Against Zee

Published by Webster

New Delhi: A Delhi court today ordered Bloomberg Television Production Services India Pvt. Ltd to take down a defamatory article published against Zee Entertainment Enterprises Ltd. Zee said that the “factually incorrect article” led to a “15 per cent drop in share price” of the company. The company, argued in front of the Delhi Sessions 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, on February 21, mentioned details pertaining to the corporate governance and business operations of ZEE, which were inaccurate in nature and led to a 15 per cent drop in share price of the company, eroding investor wealth, it said. Additional district judge Harjyot Singh Bhalla, in a big relief to Zee, directed Bloomberg to “take down the defamatory article from its platform within one week of receipt of the order”, further restraining the platform from posting, circulating or publishing the article on any online or offline platform till the next date of hearing. The article by …