This piece by Pratap Mehta - led me to this open letter provided by the TOI.
TOI gives positive reviews to companies it invests in. Yet there is no conflict of interest! - and the rascals cry for transparency in government all day. It confirms my theory Indian mainstream media cannot be held to account because of low Internet penetration in India - unlike the LA Times which is dying by drying up classified advertisements.
Having said that - Mehta's contention that readers in India are not willing to pay for good news content needs to be challenged. I think that Tata Nano-like Gandhian Engineering can be applied to produce low-budget, high quality media content provided on a subscription basis. I have long argued for a C-SPAN type operation in India. Simply tape all kinds of speakers on every kind of topic and play it on the air - uncut and unadulterated. As long as people get to hear/ see / read quality content they will happily pay a small subscription which can cover the cost of production. Note that the journalist in question will have to work for ideals and very little money.