Briefly City

Roof collapses on overhead water tank
Ludhiana: An overhead water tank in Kotmangal Singh area was damaged after a roof collapsed and fell on it. The tank was made in early 80s by the Municipal Corporation but it was never used for storing water. Area councillor Simarjit Singh Bains said,“The remaining structure can also fall and cause damage. The MC should get the tank demolished at the earliest for the safety of the residents.” It needs to be mentioned that the corporation has spent lakhs of rupees on more than 50 water tanks out of which only 12 have been put to use. The MC Commissioner said,“ I will send a team to access the loss and if needed demolition will be carried out. We will also see the status of the remaining water tanks in the area.”

Magma to disburse loans worth Rs 532 cr
Ludhiana: Magma Fincorp Limited on Wednesday announced its growth plans for Punjab and Haryana. Magma,an asset financing company,will disburse Rs 532 crore in the form of retail loans in Punjab & Haryana in 2010-11. The company already has invested in these two states with 16 branches.