Tamil Nadu - Chennai   

Cabinet writes off loans of Corporations, municipalities

CHENNAI: The State Cabinet on Wednesday wrote off loans to the tune of Rs.787.42 crore owed by civic Corporations and Municipalities.

The amount was the total of loans availed and interest as on March 31, 2007.

It extended the regularisation scheme for plots in urban local bodies till the year-end.

The Cabinet accepted the report of Mr. Farooqui, who went into the case relating to the blast at Sendur.

It approved land allotment to HCL Technologies, Satyam Computers, Sutherland Global Services, Zenith Software in tier two cities.

It decided to grant land on lease for nine years in the ELCOT Special Economic Zone to frontline IT firms.

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