Delhi HC upholds order directing Bloomberg to remove article alleging accounting issue at Zee
On 14th March the Delhi High Court upheld a lower court order instructing news organization Bloomberg to remove a story claiming that market regulator Securities and Exchange Board of India had discovered a US $241 million accounting discrepancy in Zee Entertainment Enterprises Limited. Bloomberg had moved the High Court challenging the trial court verdict asking it to remove the article, and the High Court rejected the plea and directed the media house to comply with the court order. Bloomberg had filed the plea in the Delhi High Court to overturn a trial court ruling requiring them to take down a story claiming that SEBI had flagged accounting mismatches about US $240 million in Zee Entertainment’s books. The order was rendered in a defamation lawsuit brought by Zee Entertainment against the online news platform’s management business, Bloomberg Television Production Services India Private Limited, as well as the publication’s writers and researchers.
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