Section 8(5) in Tamil Nadu Panchayats (Opening and Maintenance of Market) Rules, 2000
(5)On the sanction by the village panchayat or the panchayat union council, as the case may be, for issuing the licence applied for, and approval of rate of fees with or without modifications and rents proposed by the applicant, the licence shall be granted in Form I by the executive authority or the commissioner, as the case may be, after requiring the applicant to carry out preliminary arrangements as contemplated in the conditions for such a licence.
