History of Chennai he funded new Indian enterprises and broke into the previously closed ranks of the British financial system. The bank still has its corporate headquarters in the city. During World War I, Madras (Chennai) was shelled by the German light cruiser SMS "Emden", resulting in 5 civilian deaths and 26 wounded. The crew of a merchant ship also destroyed by the Germans that night. After India became independent in 1947, the city became the administrative and legislative capital of Madras State which was renamed as Tamil Nadu in 1968. During the reorganisation of states in India on linguistic lines, in 1953,
State Industries Promotion Corporation of Tamil Nadu State Industries Promotion Corporation of Tamil Nadu The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) (), Limited is an institution owned by the Government of Tamil Nadu. The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) was formed in the year 1971, to promote industrial growth in the State and to advance term loans to medium and large industries The Functions of State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) are: SIPCOT has established industrial complexes in 16 areas, according to the SIPCOT webpage. These include: A new SIPCOT is going to be established in Dharmapuri,Thiruvannamalai