-PTI KOLKATA: The West Bengal government has stepped in for damage control after chit fund company Saradha Group went bust reviving memories of the collapse of Sanchayita Investments in the early eighties when several investors and agents committed suicide. Sanchayita collected more than Rs 120 crore in 1980 before its offices were raided and it folded up with only a handful of people getting back a minuscule amount of money. Two main...

-PTI Srinagar: The Jammu & Kashmir Police on Tuesday detained Saradha group chairman & managing director Sudipto Sen and a director of the company from Sonamarg, where they had fled after their Calcutta-based chit fund business collapsed last week leaving thousands of depositors and agents stranded. "We have detained Sudipto Sen and Debjani Mukherjee, chairman-cum-managing director and a director of the Saradha group respectively, and Arvind from Sonamarg," the inspector general of...

-The Indian Express On Monday, the Bengali new year's day, viewers who tuned into Bengali music channel Tara Muzik witnessed a spectacle never seen before on Indian TV. Anchors of the channel and independent artistes called in to present Barsha Baran, a programme to celebrate the new year 1420, wept copiously on camera while announcing that the channel, facing an unprecedented "crisis of survival", was shutting down. Hundreds of viewers commiserated with...

-The Indian Express The State Election Commission moving the Calcutta High Court against the Mamata Banerjee government's unilateral declaration of panchayat election dates is a stunning development. Whatever the outcome of the court battle, the state already stands to accept that the dates it had proposed - April 26, 30 - are not going to be the schedule for the rural polls under any circumstances. Besides, it is largely believed that the...

-The Business Standard Defying the Election Committee's suggestion last week, the state announced a two-phase election to be held in April The tug-of-war between the West Bengal government and State Election Commission over Panchayat poll schedule may head for a legal battle, with both sides showing no sign of compromise. After a three-hour long meeting at its office here, the state election commission today refused to accept government-announced panchayat poll dates and sent...