The high court (HC) here has ruled in favour of defendants Sucheta Dalal and Debashis Basu, founders of Moneylife magazine, in a defamation notice of motion filed by the National Stock Exchange (NSE).

On Wednesday, it said NSE’s refusal to answer repeated queries from Dalal, prior to publication of the articles in question, either amounted to egregious arrogance or meant there was truth in the allegations put forth.