A petition was lodged with the Supreme Court, urging an investigation into media outlets and their affiliates for broadcasting exit polls immediately following the conclusion of the final phase of the Lok Sabha elections.
The plea alleged that these polls influenced investors, leading to a staggering loss of Rs 31 lakh crore as the share market plummeted after the June 4 election results.
According to the petition, media houses began analyzing exit polls right after the last phase of elections on June 1, encouraging common investors to engage in the stock market until its opening on June 3 (Monday), which triggered an unforeseen surge. However, when the actual results were disclosed, the market experienced a sharp decline.
Advocate BL Jain, who filed the plea, highlighted the significant loss incurred by common investors due to the share market crash on June 4. Through advocate Varun Thakur, the petition underscored that the Rs 31 lakh crore loss, plunging the markets into chaos, would adversely impact India's overall economy and global reputation.
The petition emphasizes the need for impartiality in news broadcasts, stating, "The telecast of any news/debate/programme must not give any impression of bias or prejudice in favour of or against any political party." It criticizes the unregulated electronic media for functioning primarily as a commercial entity, often favoring one political party over another.
Citing violations of the Representation of People Act, 1951, and Election Commission guidelines dated April 2, 2024, the petitioner contends that prediction/exit polls undermine the sanctity of elections. It calls on the government to safeguard robust exit polls and facilitate debates on matters of public concern.
Seeking a comprehensive investigation by agencies such as CBI, ED, CBDT, SEBI, and SFIO, the petition targets entities 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 petition argues that the collusion between media houses and corporate entities in manipulating election results violates the principles of free and fair elections and undermines the rule of law. It underscores the necessity for stringent measures to uphold the democratic process and prevent undue interference in electoral affairs.
