PaperDabba News Desk: 17 July 2024
Euro Exim Bank, based in London, has issued legal notices to RTV editor and publisher Velicheti Raviprakash for broadcasting false news about their client. The bank alleges that Raviprakash disseminated misleading stories on RTV, questioning the legitimacy of bank guarantees provided by their client, Megha Engineering Company, to the government for various construction projects.
Legal Notices Issued
Through its legal agency, Euro Exim Bank has sent a notice to Raviprakash for spreading false information by claiming that the bank guarantees were fraudulent. The notice states that such reports have caused significant financial loss and damaged the bank’s reputation. It also mentions that these baseless allegations have adversely affected the mental stability of the bank’s management and employees.
Impact on Euro Exim Bank
The bank clarified that it operates globally with its headquarters in London and legally issues bank guarantees to various infrastructure companies in India. The notice emphasizes that Euro Exim Bank has a substantial annual turnover of ₹1900 crores, contrary to RTV’s claim that the bank’s annual business is only ₹8 crores.
Demand for Retraction and Apology
Euro Exim Bank has demanded an immediate retraction of the false news and an apology from RTV. If Raviprakash fails to comply, the bank will file a ₹100 crore defamation suit and pursue civil and criminal actions. Advocate BSV Prakash Kumar from Chennai has sent these legal notices on behalf of Euro Exim Bank.
Euro Exim Bank, through its legal agency, has sent a notice to Raviprakash for spreading false information by claiming that the bank guarantees were fraudulent. The notice states that such reports have caused significant financial loss and damaged the reputation of the bank. It also mentions that the mental stability of the bank’s management and employees has been adversely affected by these baseless allegations.
