NDMC to form its SPV

The New Delhi Municipal Council (NDMC) has started the process of forming a parallel company to execute all projects under the Smart Cities Mission. The company, technically an SPV, will evaluate plans and release funds for NDMC´s smart city ideas. Its board will have 13 directors headed by a CEO. The first line of directors will include NDMC Chairperson Naresh Kumar; its secretary and financial advisor. Four directors will come from the Central and state governments. The remaining five will be chosen from the Ministry of Corporate Affairs (MCA) empanelled list of experts. Contact: New Delhi Municipal Council. Website: www.ndmc.gov.in