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The Supreme Court on Friday set aside a trial court's order directing international media group Bloomberg to take down an allegedly defamatory news article against Zee Entertainment. The top court was hearing a plea filed by Bloomberg against the March 14 order of the Delhi High Court, which dismissed its appeal against the trail court order. A three-judge bench headed by Chief Justice D Y Chandrachud said the error committed by the trial judge had been perpetuated by the high court. "The error committed by the trial judge had been perpetuated by the high court. Merely recording that a prima-facie case exists for a grant of injunction, the balance of convenience lies in Zee's favour and that an irreparable injury would be caused would not amount to application of mind in the case," the bench, also comprising Justices J B Pardiwala and Manoj Misra, said while granting liberty to Zee to approach the trial court afresh with its prayer seeking injunction. Reacting on the apex court ord
The inclusion of the India in the global bond indices is also expected to increase the interest of investors in corporate paper, Sebi Chairperson Madhabi Puri Buch said here on Wednesday. Speaking at a research conference organised by Sebi and its education-focused capacity-building body NISM, Buch said the regulator will further reduce the minimum investment size of bets on real estate investments trusts and infrastructure investment trusts to ensure that common people are able to take bets on such assets. "We are all delighted that now, government of India bonds will be part of the global indices," Buch said. "We are expecting that on the back of the inclusion of the sovereign debt on the global indices, there will be a significant interest in corporate debt," she added. J P Morgan and Bloomberg have included securities issued by the Indian government to take care of its funds in their indices, which is expected to lead to inflow of up to USD 40 billion into Indian debt from fore
The Delhi High Court on Thursday reserved the order on plea moved by Bloomberg Television Production Services India Private Limited 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 bench of Justice Shalinder Kaur decided to reserved the order after hearing the submissions at length of both sides.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 ...