New govt SPV likely to get powers to acquire and develop PSU land

The new special purpose vehicle (SPV) for monetising assets of public sector enterprises may also get powers to acquire and develop land and other assets on a case-to-case basis, besides renting and leasing them out.
 
The National Land Monetisation Corporation will soon be set up under the Companies Act and be 100 per cent owned by the government. The entity will be able to rent, lease and develop assets to monetise them for a fee, an official said.
 
The authorised share capital of the SPV has been pegged at Rs 5,000 crore.
 
A note has been prepared