<h1>Government Waives Rs. 7.59 Crore Interest on Loans to Hindustan Organic Chemicals Limited to Address Audit Observations.</h1> The Cabinet Committee on Economic Affairs, led by the Prime Minister, approved the waiver of Rs. 7.59 crore interest on Government of India loans to Hindustan Organic Chemicals Limited (HOCL) as of March 31, 2005. This decision follows a previous waiver of penal interest and interest on interest approved in 2006 under HOCL's rehabilitation package. The interest amount, considered insubstantial, had already been written off in the government and HOCL's accounts. This approval aims to regularize the interest waiver and address pending audit observations by the Comptroller and Auditor General.