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The Delhi High Court today allowed Indiabulls Housing Finance Ltd to withdraw its plea seeking to restrain web portal PGurus, Subramanian Swamy and others from publishing defamatory content against it.
The request for withdrawal was made by Senior Advocate Rajiv Nayar before a Single Judge Bench of Justice Mukta Gupta.
Indiabulls had moved the High Court after an article was published on PGurus, alleging the commission of the “biggest scam” involving itself, NSE and certain prominent political leaders.
It was Indiabulls’ grievance that two cartoonists, who were also arrayed as the defendants, were publishing articles/cartoons on various platforms including PGurus and Twitter that circulated false, incorrect and motivated information about Indiabulls.
As a result of this circulation, the company was witnessing a drastic decline in its shares, it was argued.
Indiabulls further claimed that Subramanian Swamy also made certain false and defamatory statements against the company and this information was disseminated by the two artists and the CEO of PGurus through social media.
Attention was brought to an interview given by Swamy to News World on August 31, maligning the reputation of the company.
Pursuant to the plea, an order was passed by the Court on September 13, restraining Swamy and PGurus from publishing or disseminating or uploading any false, offending and defamatory allegations against Indiabulls on any social media platform till December 17, which was the next date of hearing.
The Court had also directed PGurus and social media platforms i.e. Twitter, Facebook, Instagram and WhatsApp to remove/take down and/or expunge all offending content pertaining to Indiabulls from their portals.
Meanwhile, the Delhi High Court last month issued notice in a petition seeking a direction for an in-depth and time-bound investigation by a Special Investigation Team into the “illegalities and violations” committed by Indiabulls Housing Finance Ltd, its subsidiaries and promoters.