CHENNAI: The South Indian Artistes Association (better known as the Nadigar Sangam) on Monday announced that the Land lease deal its previous office bearers had entered into with SPI cinemas had been cancelled.
Disclosing this to mediapersons, the present office bearers of the Nadigar Sangam said they had held several meetings with the representatives of SPI cinemas with the intention of getting the deal cancelled as they had promised to do so in their election manifesto.
After negotiations, it was agreed that the Nadigar Sangam would return Rs Two crore and 48 lakh to SPI cinemas towards the amount it had spent on the agreement (Rs 48 lakh) the registration (Rs 1 crore and 41 lakh) and the monthly expenses it had paid to the Nadigar Sangam (around Rs 60 lakh).
On the occasion, the office-bearers thanked all those had helped them cancel the deal and reclaim the land.