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
          1.  Planning
          2.  Finance
          3.  Projects and
          4.  General Administration.