ASSCCL

Amaravati Smart & Sustainable City Corporation Limited

Introduction :

Amaravati has been selected in Round 3 of the Smart City Challenge (June 2017). As per the Smart Cities Mission Guidelines, a Special Purpose Vehicle (SPV) is required to be established by each selected smart city with a Managing Director/Chief Executive Officer as its Executive Head and advised to start the process/activities and apprise the Ministry about the action taken regularly.

Details of Incorporation :

Accordingly, in pursuance to the sub-section (2) of section 7 of the Companies Act’ 2013 and rule 18 of the Companies (Incorporation) Rules, 2014, the Ministry of Corporate Affairs, GoI have incorporated a SPV in the name and style of “Amaravati Smart & Sustainable City Corporation Limited (ASSCCL)” on 21-Nov-2017 and subsequently, the Government of Andhra Pradesh have issued orders for incorporation of the same and further appointed Commissioner-APCRDA as the “Managing Director & Chief Executive Officer” of the SPV (ASSCCL) for planning and execution of Amaravati Smart City projects.

The Special Purpose Vehicle (SPV) will be promoted by the State Government and the Andhra Pradesh Capital Region Development Authority (APCRDA) (In lieu of Urban Local Body) jointly, having a shareholding ratio of 50:50 and will be governed by a Board of Directors for effective and timely implementation of the Smart City Program of Amaravati Capital City as per the rules and guidelines issued by the Government of India and the State Government from time to time and is answerable to Government of Andhra Pradesh, Government of India and Andhra Pradesh Capital Region Development Authority and all other stakeholders.

S.No	Designation of the Dignitary	Role
1	Special Chief Secretary to Government, MA&UD Department (Representative of GoAP under Promoter Category)	Chairperson
2	Principal Secretary to Govt., Finance Department represented by Addl. Secretary to Govt., Finance Department	Director
3	Secretary to Govt., MA&UD Department	Director
4	Commissioner & Director of Municipal Administration	Director
5	Commissioner, APCRDA	MD&CEO
6	Additional Commissioner, APCRDA	Director
7	Commissioner, Vijayawada Municipal Corporation	Director
8	Commissioner, Guntur Municipal Corporation	Director
9	Engineer-in-Chief, Public Health	Director
10	Chief Engineer, APCRDA	Director
11	GOI Nominee Director	Director

The authorized share capital of Special Purpose Vehicle (SPV) for incorporation will be Rs.20.00 lakhs initially and the paid up capital of the Special Purpose Vehicle (SPV) will be Rs. 5.00 lakhs divided into 50,000 equity shares of Rs. 10/- each. The following officers are nominated as shareholders of the SPV.

S.No	Shareholder	No. of shares of Rs. 10/- Each
1	H.E the Governor of Andhra Pradesh represented by Addl. Secretary/Joint Secretary/Deputy Secretary to Govt., MA&UD (APCRDA) Dept., GoAP.	24,996
2	Addl. Secretary/Joint Secretary/Deputy Secretary to GoAP, Finance Department	01
3	Commissioner & Director of Municipal Administration, GoAP	01
4	Chief Engineer/Engineer in Chief (Public Health), GoAP	01
5	Director of Town and Country Planning, GoAP	01
6	APCRDA represented by its Commissioner	24,997
7	Addl. Commissioner, APCRDA	01
8	Chief Engineer/Director, APCRDA	01
9	Director (Accounts), APCRDA	01
Total		50,000