Operation bailout: Why is TMC trying to save Saradha's media group?

In a bid to save the Trinamool Congress from more embarrassment in the chit fund scam, Bengal chief minister Mamata Banerjee and party leader Mukul Roy seem to have started their own operation bailout.

The TMC has launched a two-pronged move to save the Saradha group media companies from extinction, reported Economic Times .

How?

Apparently, the duo is in search of a posse of ‘white knights’ to invest in the companies. Saradha Group media CEO and Rajya Sabha MP Kunal Ghosh says, “Anyone with deep pockets and a Kolkata connection may be approached for this critical rescue mission.”

As the search for rescue intensify, According to ET, of the many names in circulation, two foremost are Srei Infrastructure Finance and Magma Fincorp.

However, both Srei and Magma have denied being approached by anyone on the issue.

Besides media, Saradha group had business operations in real estate, travel and tourism, exports, agriculture and catering industry. Then why just save the media group?

Opposition parties in Bengal smell politics in Mamata’s rescue operation and allege that this is her move to gather votes ahead of the Lok Sabha polls.

Although most media organisation of the Saradha group have collapsed, two dailies, one in Bengali and the other in Urdu, Kalam and Azad Hind, are still running. “The Muslim community, which principally subscribes to both these papers, is also a critical voter segment that the Trinamool Congress cannot ignore,” notes The Economic Times. 

A TMC leader says that funds for running these two dailies are being provided directly by the Trinamool high command.

“Trinamool is party which depends on media to win elections. Mamata is eager to take control of Saradha’s media establishments for her own interests,” a CPI(M) leader told the paper.

Politics or no politics cannot be ascertained now. But can Didi really save the media organisations from collapsing?

Read the full Economic Times article here.