Supreme Court Dismisses Exit Poll Impact Plea | Market News

The Supreme Court recently dismissed a public interest litigation (PIL) calling for an investigation into media organizations and their affiliates for broadcasting exit polls immediately after the final phase of the Lok Sabha elections. The bench, comprising Chief Justice of India DY Chandrachud and Justices JB Pardiwala and Manoj Misra, described the PIL as a “political interest litigation.”

The petition had sought an investigation into media outlets for allegedly influencing investors, causing a loss of Rs 31 trillion as the stock market plummeted after the election results were announced. The petition claimed that media houses began discussing exit polls as soon as the final phase of the election concluded, leading to a surge in the stock market followed by a crash when the actual results were declared.

Advocate BL Jain, who filed the petition, argued that the broadcast of news, debates, or programs should not show bias towards any political party. The petition also highlighted violations of the Representation of the People Act, 1951, and Election Commission guidelines regarding exit polls.

The plea sought a probe by various investigative agencies into media organizations allegedly involved in manipulating election results. The petition emphasized the need for free and fair elections and the regulation of the election process to preserve democracy and the rule of law.

Overall, the Supreme Court’s decision to dismiss the PIL raises questions about the role of media in influencing public opinion and financial markets during elections. It also highlights the importance of upholding ethical standards in reporting and the need for transparency in media practices.