Bombay HC Directs Meta, Other Platforms To Remove 'Deepfake' Videosof NSE CEO Urging Investors To Join WhatsApp Group For Stock Tips.

• The Bombay High Court (“Bombay HC”), vide its interim order dated July 16, 2024 (“Order”), passed in the matter National Stock Exchange of India Ltd. vs. Meta Platforms, Inc. & Ors. [I.A. (L) No. 21456/2024 in COM IPR SUIT (L) No. 21111/2024], directed social media intermediaries to take swift action against deepfake videos featuring the Managing Director and CEO of National Stock Exchange (“NSE”), Ashishkumar Chauhan. The Order was issued after NSE reported that fabricated videos using advanced AI technology were imitating the voice and likeness of its MD to offer false investment advice were being circulated on social media platforms owned by Meta Platforms Inc. These deepfake videos allegedly included misleading claims about stock recommendations and encouraged viewers to join a WhatsApp group for stock tips, promising reimbursement for any losses incurred.
• The Bombay HC noted that social media companies should be prompt in acting on complaints of entities like the NSE, when there is unauthorised use of their trademarks. The Bombay HC also directed Meta Platforms, Inc and other social media intermediaries to remove/ delete/take down/disable any content infringing on NSE's trademark and to remove/ delete/take down/disable dubious pages and/ or profiles and accounts which circulated or posted such fake videos.
• The growing concerns around the misuse of AI technologies like deepfakes and the legal responsibilities of social media platforms in monitoring and removing harmful content highlight the need for stringent measures and norms to combat the misuse of deepfake technology and protect individuals and organizations from reputational harm.

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