NEW DELHI: A Delhi Sessions Court has ordered Bloomberg Television Production Services India to remove an article "India Regulator Uncovers $241 Million Accounting Issue at Zee" published against Zee Entertainment Enterprises on February 21 after the latter argued that the article was "false and factually incorrect, with a premeditated and malafide intention to defame the company." 


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"Consequent to the publishing of the article, the company and its investors have suffered economically, in as much as, the stock price of the company fell by almost 15% because of the circulation of the defamatory material," said Zee in a statement. 


"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. Despite the company firmly refuting the same, the article incorrectly published financial irregularities in Zee, without the basis of any order from the regulator," the Zee statement read. 


The counsel for ZEE argued before the judge that irreparable loss and injury may be caused to the company if the injunction as prayed for was not granted.


Granting relief to ZEE in a hearing conducted on 1st March 2024, Additional District Judge, Harjyot Singh Bhalla pronounced that ZEE has made out a prima facie case for passing ad interim ex-parte orders of injunction.


The judge 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.