Belagavi Smart City Ltd. has been set up to begin development works under the smart city project.
Belagavi City Corporation Commissioner G. Prabhu told The Hindu here on Friday that the company was set up on May 11.
It had been registered with the Registrar of Companies, Bengaluru.
Capital
The company had been established with an authorised share capital of Rs.500 crore and a paid up capital of Rs.200 crore.
The directors of BSCL are Ponnuraj Veluswamy, managing director of the Karnataka Urban Infrastructure Development Finance Corporation, Bengaluru; Khushboo Goel Chowdhary, managing director of Hubballi Electricity Supply Company, Hubbali; Ponniah Manivannan, managing director, the Karnataka Urban Water Supply and Drainage Board, Bengaluru; Thichempully Krishnadas Anil Kumar, Secretary, Department of Urban Development, Bengaluru; G. Prabhu, Belagavi City Corporation, Sarita Viraj Patil, Mayor, Belagavi, and Manjula Narayanappanaik, director, Directorate of Municipal Administration.
Special purpose vehicle
Mr. Prabhu said that the company was a special purpose vehicle, which would overlook the implementation of the entire project.
