The Supreme Court has overturned a previous directive against Bloomberg concerning an article about Zee Entertainment.
What Happened: The Supreme Court, on Friday, invalidated a trial court’s directive that had mandated Bloomberg to expunge an article that alleged a $241-million financial discrepancy at Zee Entertainment Enterprises Ltd. The apex court criticized the lower courts for their failure to provide substantial reasoning behind their orders.
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The bench, led by Chief Justice of India DY Chandrachud, pointed out that the courts did not establish a prima facie case for the injunction, which would have justified the balance of convenience in favour of Zee and the potential for irreparable injury in the absence of the injunction. This failure led the Supreme Court to instruct the trial court to revisit the matter and issue a reasoned order.
A Delhi trial court, on March 1, ordered the removal of a Bloomberg article that cited a $241-million accounting irregularity at Zee, identified by SEBI. The order was upheld by the Delhi High Court on March 14. Zee contended that the report was based on “unverified claims” and improperly linked to SEBI orders, igniting legal battles that put the spotlight on the boundaries of press freedom in India.
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