KOLKATA: A production company Channel Eight, which relaunched the Kolkata headquartered Electro steel Group’s GEC Akash Bangla as Aakash Aath in October 2013, has been compelled to disassociate itself from the channel after it didn’t get the promised 51 per cent stake.

Channel Eight had invested around Rs 15 crore in the process as per sources.

“Aakash management had made certain commitments to Channel Eight which they have miserably failed to keep, due to which we have moved out from the channel, 12 June onwards,” says Channel Eight director Ashok Surana.

Indiantelevision.com had earlier reported that there was a tussle between the director Avik Dutta and the investor Ashok Surana over the share transfer issues.

Channel Eight’s programs like Janani, Police Filez, Ghhente Gha, Sahityer Shera Shamoy and Gaan Dariya have already gone off air from Aakash Aath. The production company has stalled the shooting process.

“As a result, nearly 300 persons will be out of work. The artistes and technicians associated with these productions are extremely unhappy with this development but have promised to work with us as and when we resume work. All the programs currently running on Aakash Aath are not Channel Eight Productions,” informs Surana.

“It is a sad commentary of market situations in West Bengal. The revenue potentials are low. Whatever is available is primarily taken away by the bigwigs. There are only two viable plans in media segment. Either a big plan so one can take away most of the ad spends in the region or low budget propagation where survival is not entirely dependent on corporate support for adverts/promotion,” says a media analyst Swaraj Mukherjee.

 “Ashok is intelligent to get back the money. He was quite upset and feels that if it continues like this, no HNIs will ever invest in media sector,” says a close business associate of Surana on condition of anonymity.

Avik Dutta was unavailable for comment, when contacted.