A sessions court in Delhi on March 1 ordered Bloomberg Television Production Services India to take down a report dated February 21, which it published against Zee. The report said that SEBI had found a $241-million accounting issue at Zee. After the publication of the report, Zee’s stock price slumped 15%, eroding investor wealth.
Zee refuted the report, saying that no such finding was made by the markets regulator. The report also mentioned issues about corporate governance and business operations of Zee, which according to the broadcaster, were inaccurate in nature.