06 Sep 2017
ITC files Rs 1,000 crore defamation suit against IiAS
Diversified firm ITC has filed a Rs 1,000-crore defamation suit against proxy advisory firm IiAS at the Calcutta High Court for allegedly making 'defamatory' statements against the company and its directors.
In the suit, filed last month, ITC said Institutional Investor Advisory Services (IiAS) had published two reports that were "false, defamatory and malicious" on its website (www.iiasadvisory.com) in July 2017 before the AGM of the company.
It prayed before the court to issue a "decree for Rs 1,000 crore against" the defendants while also seeking a mandatory injunction directing IiAS to publish an unconditional apology.