PMC to rope in firm to register SPV for metro project

DA Kamat and Company, which registered Mumbai Metro Rail Corporation with the registrar of Companies, may be invited to register a special purpose vehicle (SPV) for executing the Pune metro rail project. Recently, the standing committee of the Pune Municipal Corporation (PMC) cleared the proposal of the civic administration to appoint the firm for registering the SPV. According to the proposal, the civic administration wants to appoint the firm as the company secretary for registering the SPV with immediate effect without advertising or inviting tender. It may be noted that the SPV will execute work on two routes of the metro project. The civic administration should be allowed to pay Rs 20,000 and service tax to the company secretary for registering the SPV, the proposal said. Giving an account of the meeting on Metro rail with Union Agriculture Minister Sharad Pawar and Urban Development Minister Kamal Nath, state government officials said there were directions of speeding up the process of forming the SPV. The quotation and the papers for the Metro rail registration have been submitted by DA Kamat and Company. The registration charges is Rs 31,000.