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The High Court of Delhi has not only urged UOI (Union of India) to revisit the policies surrounding the prevention of the spread of misinformation but also directed social media platforms like WhatsApp, Twitter and Telegram to take down and block all offending material from their respective platforms.
The issue started when some unidentified people tried to harm the company by sending unverified buy and sell messages via Telegram and WhatsApp groups.
"This event was clearly out of EaseMyTrip's control, as there are thousands of such groups (on Telegram and WhatsApp), where their users/admins share trading advice on various stocks daily," the company said in a statement.
Easy Trip Planners said it has already filed a police complaint against such perpetrators or entities. The firm advised all investors not to rely on such unsolicited messages.
The court directed the BSE to issue a clarification on its website to make it clear to investors that EaseMyTrip is not liable for any action.
Shares of Easy Trip Planners was down 3.03% at Rs 580.75. The stock fell as much as 5.52% to hit the day's low of Rs 565.85 in intraday today.
The stock entered the bourses on 19 March 2021. Its shares were listed at Rs 206 per share, a premium of 10.06% compared with the IPO price of Rs 187 per share.
The company's consolidated net profit surged to Rs 15.43 crore in Q1 FY22 from Rs 2.50 crore in Q1 FY21. Net sales during the quarter jumped to Rs 18.70 crore from Rs 3.56 crore reported in the same period last year.
EaseMyTrip is an online travel platform. It offers 'End to End' travel solutions which include air tickets, hotels and holiday packages, rail tickets & bus tickets as well as ancillary value-added services.
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