Compensation to the tune of ₹1.47 crore would be paid to the farmers whose payments were not settled after they had sold their paddy to the traders at the Chetpet regulated market.
The regulated markets were run by district marketing societies managed by the government where farmers and traders carried on their buying. Between October 17, 2016 and February 2017, some traders who had purchased paddy had failed to settle payments to the tune of ₹1,47,45,776. As many as 228 farmers were affected owing to this.
Considering the plight of the farmers, already affected by the failed monsoon, the State Government had issued an order on June 12 ordering compensation to these farmers. The order had asked Tiruvannamalai district marketing society to settle their dues in full from the society’s surplus funds, said District Collector Prashant M.Wadnere.
The compensation would be credited into the bank accounts of the farmers. Farmers affected were asked to submit the copy of the weighing slip issued while selling the paddy, bank account number, first page of their pass book and a statement in stamp paper to the superintendent of the Chetpet Regulated Market, the Collector added