WB govt to take over TV channels of Saradha Group

The West Bengal government on Thursday decided to take over two television channels of scam-tainted Saradha Group, which are facing closure.

Announcing the decision, Chief Minister Mamata Banerjee told reporters at the Writers' Buildings that the decision was taken following appeal by employees of Tara News and Tara Muzic channels for government intervention. She said that 168 employees of the channels would get an ex-gratia payment of Rs 16,000 each from this month.

The state government would provide Rs 26 lakh from the chief minister relief fund to run the channels.

The government would, however, not take the liability of the channels, which amounted to Rs 6 crore, she said.

Noting that legislation was required for the purpose, she said the state government would decide whether it should convene a special session of the Assembly or promulgate an ordinance since the assembly was not in session now.

Saradha group allegedly cheated thousands of small investors through ponzi schemes.