SC stays Madras HC order on farmer loans

New Delhi, July 3 : In a relief to the Tamil Nadu government, the Supreme Court on Monday stayed the operation of a Madras High court order directing the government to waive loans of all farmers taken from co-operative banks regardless of land holdings. The Bench of Justice Madan B. Lokur and Justice Deepak Gupta stayed the operation of the high court order on a plea by Tamil Nadu government.
The state government had moved the top court in May.
The Madurai Bench of the Madras High Court had on April 4 ordered the Tamil Nadu government to waive loans farmers had taken from cooperative societies.
The government had earlier waived off loans of farmers owning land up to five acres. However, the farmers filed a case for waiver of loans regardless of land holding.