MUMBAI METRO LINE 3
APPROVALS AND CLEARANCES FOR THE RPOHECT
APPROVALS-expression granting permission; an indication of agreement with a proposal; an acknowledgement that a person, thing or event meets requirements they usually occur one time. CLEARANCES – It refers to a permission granted for actions to be carried out.
11 FORMATION OF SPV ACT :Under The Companies Act 201311 is an Act of the Parliament of India on Indian company law which regulates incorporation of a company, responsibilities of a company, directors, dissolution of a company ((refer pg 95, project clearanes- total project management by PK Joy )) All the metro rail projects are to be covered under the Metro Railways (Construction of Works) Act, 1978 and the Metro Railways (Operations and Maintenance) Act, 2002. However, the present Acts need some amendments to bring more specific provisions regarding PPP projects and also to empower State Governments within the ambit of the Constitution. It was suggested the Central Government should form NURTC to assist the State Governments in realizing their MRTS schemes. NURTC could take over such projects on a turnkey basis on deposit terms or function as General Consultants to the Special Purpose Vehicles which will be set up by the State Government for implementing and operating the MRTS project. Wherever the State Governments wish to employ International Consultants, NURTC should be engaged as Prime Consultants to safeguard the interest of the State Government and the Central Government. (MMRCL, Annual report, n.d.)12
APPROVAL AUTHORITY :URBAN TRANSPORT RAIL PROGRAM , MINISTRY OF HOUSING AND URBAN AFFAIRS ,GOI Setting up of MMRC Wherever the State Governments wish to employ International Consultants, NURTC should be engaged as Prime Consultants to safeguard the interest of the State Government and the Central Government(under companies act 2013)
BODY:GOM HAS THE RESPONSIBILITY IN GETTING OUT THE APPROVALS NEEDED :An SPV named MMRC (Mumbai Metro Rail Corporation Ltd.) was incorporated on 30.4.2008 with the mandate “To establish, Operate and Maintain Guided Urban Transit Systems in and around Mumbai City so as to meet the urban transport needs of Mumbai”.
Role :Vehicle (SPV), vested with adequate powers, is an effective organizational arrangement to implement and subsequently operate and maintain a metro rail project.
Figure 14:flowchart showing the formation of insititutional framework by GOI for carrying out approvals
11
https://www.mmrcl.com/sites/default/files/Annual%20Report%202014-15.pdf
12
http://mohua.gov.in/cms/Urban-Transport-Metro-Rail-Projects.php
SUBMITTED BY: BHUMIKA RAJ UC5316
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