Special Purpose Vehicle
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The city level SPV structure would b e called the ‘Tirunelveli City SPV’ (TCS) and it will be a limited liability company incorporated under the Indian Companies Act 2013 with the City Corporation and GoTN having 50% equity stake each. The TCS would identify and liaison with financial institutions including those promoted by the GoTN for equity participation in the TCS/projects at a later stage.
Composition of SPV
• Commissioner of Municipal Administration - Chairman and Director
• City Commissioner, TCMC
• Chief Executive Officer
• Finance Department Representative (GoTN)
• Four Directors.
A panel of eminent experts from diverse background would advise the Board. The CEO will be supported by a core team and support staffs spread across four verticals
3. Projects and
4. General Administration.