The 13th board meeting of Kerala Monorail Corporation Ltd. (KMCL), chaired by Chief Minister Oommen Chandy here on Wednesday, decided to convene the Annual General Meeting (AGM) of the special purpose vehicle later this month to ratify the corrected balance sheet and audit by the CAG. Principal Adviser to the Delhi Metro Rail Corporation (DMRC) E. Sreedharan, the brain behind the light metro project, was not present at the meeting as he was indisposed.
The approval of the AGM is needed to submit the corrected balance sheet and CAG audit report to the Registrar of Companies, along with the application to rename KMCL as Kerala Rapid Transit Corporation Ltd. (KRTL), in view of the switchover from monorail to Light Metro in Thiruvananthapuram and Kozhikode.
An error in the audited statement of accounts of KMCL had stalled a decision taken last year to rename the company as KRTL. The Registrar of Companies had returned the balance sheet submitted along with the application. The KMCL Managing Director explained to the board the error in the balance sheet, the delay caused in renaming the KMCL to KRTL, and the ratification needed of the AGM for the corrected balance sheet.
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The board also asked the government to expedite the clearance to the Detailed Project Report (DPR) prepared by the DMRC and pending with the Cabinet since October 24, 2014. The board gave its consent for the takeover of the land belonging to M/s De Mendez near the CRPF camp at Pallippuram for the Light Metro depot.
KMCL vice-chairman and Minister for Public Works V. K. Ebrahim Kunju; Minister for Industries and IT P.K. Kunhalikutty; Minister for Health V. S. Sivakumar; Additional Chief Secretary, Finance, K. M. Abraham; Secretary, PWD, A.P.M. Mohmmaed Hanish; Chief Operating Officer, Kerala Road Fund Board P. C. Harikesh; and KMCL Managing Director. P.I. Sheikh Pareeth attended.
Application for changing SPV’s name to be submitted