MOUD RELEASES OFFICE MEMORANDUM REGARDING DELEGATION OF FINANCIAL POWERS TO SPV
The SPV has full autonomy to discharge its functions as prescribed under Article of Associations (AoA) to meet objectives written in MoA including exercise of financial powers within the framework of Companies Act, 2013. lt is, therefore, advised that States/ULBs may strictly follow the provisions of the Companies Act, 2013, for operationalization of SPV in the Smart Cities.
