-The Indian Express In the wake of the collapse of the Saradha chit fund company, the Information & Broadcasting Ministry has asked all television channels - general entertainment as well as news and current affairs - to furnish details of their shareholding pattern and equity structure. This includes the Saradha Group. According to sources, the ministry's letter, sent on Friday, asks channels to inform whether there had been any changes in their...
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SEBI digs deeper, chit scam gets bigger -P Vaidyanathan Iyer
-The Indian Express Kolkata: Saradha Realty Ltd, which has gone bust now, may be just the beginning of the unfolding of a deeply entrenched Ponzi scheme network involving dozens of other companies in West Bengal, some of which also wield considerable media power given their ownership of television channels and newspapers. According to information available with the union corporate affairs and finance ministries, six companies, against whom market regulator Securities and Exchange...
More »Trinamool runs aground: It is foundering on Bengal’s cheat funds and could well sink with them -Abheek Barman
-The Times of India The collapse of Saradha Group, promoted by Sudipta Sen, is the greatest threat yet to Mamata Banerjee's Trinamool Congress regime in Bengal. It could also imperil the finances of millions of people in Bengal, Assam, Jharkhand, Bihar, Orissa and eastern Uttar Pradesh. Trinamool's blatant association with the bigwigs of Saradha, which raised vast amounts of money from poor people before collapsing, is a potentially fatal political body blow....
More »Saradha crisis: Mamata hikes VAT on tobacco for relief fund- Romita Datta
-PTI Mamata Banerjee stages reversal of former apathy towards fate of those affected by Saradha Group demise Kolkata: West Bengal chief minister Mamata Banerjee staged a reversal of her former apathy towards the fate of those whose savings had disappeared amid the collapse of the deposit-taking Saradha Group. Having said on Monday that "what has gone, has gone", Banerjee on Wednesday announced a 10 percentage point hike in value-added tax (VAT) on tobacco...
More »Government hints at broadcasting reform agenda- Shuchi Bansal
-Live Mint I&B minister raises prospect of independent broadcasting authority, says govt may be forced to set up ratings system Information and broadcasting (I&B) minister Manish Tewari on Friday raised the prospect of an independent broadcasting authority and said the government may be forced to set up a ratings system unless the industry took steps to put in place a credible method of ranking television programmes, in a series of statements that...
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