The Congress-backed TV channel Jaihind TV got a rude jolt when a demand notice was published in newspapers by the Corporation Bank, asking the channel management to repay a loan of over Rs 3.19 crore within 60 days.
The management, which includes top Congress leaders including state party President V.M. Sudheeran, former Chief Minister Oommen Chandy and Leader of Opposition Ramesh Chennithala, was also warned of facing revenue recovery proceedings.
Launched in 2007 by Congress President Sonia Gandhi, the TV channel had cash-rich Keralite investors, mostly settled in the Middle East while the management is vested with State Congress leadership.
State Party Vice President M.M. Hassan is the Managing Director of the channel and all the other top leaders are listed as directors or acting directors in the demand notice published.
Last year, veteran film director Sreekumaran Thampi went public by saying that the channel owes him more than Rs 2 million, for a serial that he produced for the channel.
Thampi said that if his payment is delayed, he will have no option but to commit suicide, as he produced the serial after taking a loan from the bank.
He added that despite several reminders to the channel management, there was no positive response.