Kalyan Jewelers suffers a loss of 500 crore because of a YouTube Video
Kerala Based Jewelry retailer Kalyan Jewelers has commenced to the Kerala High Court to prevent an allegedly malevolent campaign against it on YouTube and social media.
According to the company, it has incurred tangible and intangible losses of ₹ 500 crore due to the campaign. The jewelry group, which has 125 retail show rooms in India and the Middle East and 650 mini stores in India, has alleged that its business rivals is spreading the false stories and forged electronic records depicting them as cheaters or defaulters with the help of some persons.
Such a fake video was uploaded on YouTube and its links was shared through WhatsApp and Facebook and other social media sites the petitions filed through the legal firm M/s V Sethunath and Manoranjan VR said. The fake video showed seizure of Counterfeit Gold in its showroom.
Original Video From Kuwait
According to a report, the name and logo of the company have been used in the video 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 jeweler’s showroom was inspected and jewelry from the store seized due to fraudulent practices by the company.
Kalyan Jewelers has asked the court 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 reply, the Kerala High Court has issued a notice calling for the introduction of regulatory mechanisms to curb fake news on social media platforms.