HYDERABAD: The state government on Saturday nominated the share holders in the Capital City Development and Management Company (CCDMC), a Special Purpose Vehicle established for development, implementation, operation and management of Amaravati, the new capital city.
In a Go issued here late Saturday night, the State government notified the shareholders and the capital amount for the purpose of incorporation of CCDMC with the Registrar of Companies. “Governor of AP, represented by principal secretary of Municipal Administration and Urban Development Department (MA&UD), will hold 9,99,99,994 shares in the CCDMC,” the GO stated.
The Municipal Administration principal secretary is authorised to sign the incorporation papers for the new company on behalf of the governor and also to represent him in all the meetings of the company on his behalf.