Kalyan Jewellers moves court after fake news on YouTube causes Rs 500-crore loss

Kerala-based Kalyan Jewellers has claimed that fake news on social media led to it suffering a loss of around Rs 500 crore and has moved the Kerala High Court seeking supervision of social media websites.

The jewellery company, in its plea filed in the high court, says that fake videos claiming to show the seizure of counterfeit gold at its showrooms have been shared on social media websites such as YouTube. The fake videos are part of a malicious campaign against Kalyan Jewellers by business rivals, the brand further claims in its petition.

Terming the campaign as defamatory and misleading, Kalyan alleges that it has incurred losses running in to more than Rs 500 crores.

According to the plea, the name and logo of the company have been used in videos to portray what was a routine inspection in one of its Kuwait stores as a raid. The videos have been edited to make it seem like that a Kalyan jeweller showroom was inspected and jewellery from the store seized due to fraudulent practices by the company.

The original footage was of a routine inspection that Kuwaiti officials conduct on all jewellers in the country. They took some jewellery samples from the Kalyan jeweller store as part of their inspection.

This routine inspection has been incorrectly shown as evidence of Kalyan Jewellers selling fake gold and of authorities seizing that fake gold.

The petition has asked for greater control and supervision of social media sites stating that “How can a platform that does not have control over their own sites be allowed to function in India? It appears The Government of India does not have any control over these sites. ”

In response, the Kerala High Court has issued a notice calling for the introduction of regulatory mechanisms to curb fake news on social media platforms.

Kalyan Jewellers has been fighting to curb alleged fake accusations made against it for months now. In a post on its official Facebook post, it said that three individuals were arrested by Kerala Police for spreading false information about it.

In March, five Indian expatriates were booked by the Dubai Police on charges of cybercrime and abuse via the internet for spreading false information about the company.

Kalyan Jewellers is a Kerala-based jewellery retailer with more than 120 showrooms in India and the Gulf. The brand has several high profile ambassadors, including Amitabh Bachchan, Katrina Kaif and Nagarjuna.



News credit : Indiatoday

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