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SC junks plea over impact of exit polls on investors during LS elections
Source: Business Standard
Supreme Court, SC (Photo: Shutterstock)
The Supreme Court on Friday (September 5) dismissed a public interest litigation (PIL) calling for an investigation into media organisations and their affiliates for broadcasting exit polls immediately after the final phase of the Lok Sabha elections.
The SC bench, comprising Chief Justice of India DY Chandrachud and Justices JB Pardiwala and Manoj Misra, described the PIL as a “political interest litigation.”
“The government is already elected. Let’s put an end to discussions about election-related issues and focus on governance. The Election Commission will manage these matters; we will not oversee the Election Commission. This is a clear case of political interest litigation. Dismissed,” the bench remarked.
The petition had sought an investigation into media outlets and their affiliates for broadcasting exit polls immediately following the final phase of the Lok Sabha elections and allegedly influencing investors, who reportedly suffered a loss of Rs 31 trillion as the stock market plummeted after the results were announced on June 4.
Allegations in the petition
Filed in June, the petition claimed that media houses began discussing exit polls as soon as the final phase of the election concluded on June 1. They purportedly encouraged investors to buy stocks until the market reopened on June 3 (Monday), leading to an unforeseen surge in the stock market. The petition alleged that while the market rose following the exit polls, it subsequently crashed when the actual results were declared.
Advocate BL Jain, who filed the petition, stated that the stock market crash on June 4 resulted in a significant loss of Rs 31 trillion to investors. Filed through advocate Varun Thakur, the petition argued that this loss would impact the overall Indian economy and India’s global reputation.
“The broadcast of any news, debate, or programme should not suggest bias or prejudice in favour of or against any political party. Unfortunately, the uncontrolled and unregulated electronic media has become a commercial enterprise and is manipulated by one political party against another,” the petition contended.
The petitioner argued that prediction and exit polls constitute a violation of Section 126A of the Representation of the People Act, 1951, and the guidelines issued by the Election Commission of India on April 2, 2024. The petition stressed that the government must ensure the integrity of exit polls and public debates.
Plea sought CBI probe
The petition sought a probe by the Central Bureau of Investigation (CBI), Enforcement Directorate (ED), Central Board of Direct Taxes (CBDT), Securities and Exchange Board of India (SEBI), and Serious Fraud Investigation Office (SFIO) into various media organisations, including Axis My India, India Today Media Plex, Times Now, Independent News Service Private Ltd. (India TV), ABP News Pvt Ltd., Republic Media Network, News National Network Pvt Ltd., TV9 Bharatvarsh, and NDTV.
“The Parliament of India enacted the Representation of the People Act, 1951, to ensure free and fair elections and regulate the election process. However, through exit polls, media houses in collusion with corporate entities have been manipulating election results. This conduct violates the principle of free and fair elections in a democracy and interferes with the rule of law,” the petition stated.
First Published: Sep 06 2024 | 2:35 PM IST
