Firm appointed to register SPV for Pune Metro project

The Pune Municipal Corporation (PMC) standing committee on Wednesday approved the civic administration proposal to appoint D A Kamat and Company to register the special purpose vehicle (SPV) to implement Metro rail project in the city.

The SPV has to be registered with the registrar of Companies.

"Mumbai-based D A Kamat and Company has the experience of registering Mumbai Metro Rail Corporation, so it was decided to appoint the company for Pune Metro rail too," said Baburao Chandere, chairperson of standing committee.

The civic administration proposal sought the appointment of DA Kamat and Company as the company secretary for registering the SPV for two routes of the Metro project with immediate effect without advertising or inviting tender. 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.

D A Kamat and Company had submitted quotation for the purpose and submitted papers of Metro rail registration which cost Rs 31,000.

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