A ₹100 crore defamation case has been filed against RTV, a Telugu news channel, and its owner-reporter, Mr. Ravi Prakash, in the City Civil Court of Hyderabad.
The defamation proceedings , brought by Euro Exim Bank Ltd., accuses RTV and Ravi Prakash of spreading maliciously untrue, factually baseless and damaging information about the bank through a series of misleading and false reports.
Euro Exim Bank which is licensed and regulated in St. Lucia as a Class ‘A’ bank has stated that RTV’s broadcasts wrongfully portrayed the bank as an illegitimate financial entity and falsely claimed that the bank had issued fake bank guarantees worth thousands of crores to Indian government organizations. The bank contends that these accusations have significantly harmed its reputation and impacted its clients globally. The Bank further asserts that all guarantees issued by the Bank are valid contractual documents.
In a statement earlier, Ravi Prakash said that he was prepared to challenge the legal notice served on him by Euro Exim Bank.
The legal notice was issued in response to a broadcast aired on July 14, 2024, which the bank alleges contained false and damaging statements.
