Land special purpose vehicle on fast track as board structure finalised

The board of NLMC would have 13 directors, of which seven would be government officials and six would be from the private sector

The proposed board of National Land Monetisation Company (NLMC) or the land special purpose vehicle (SPV) would have 13 members and would be headed by the chief executive officer who will be an additional secretary or joint secretary-level officer, Finance Minister Nirmala Sitharaman said on Monday.

The proposed board structure of NLMC — a specialised entity to monetise non-core assets of public sector undertakings announced in last year’s Budget — envisages a mix of senior government officials and eminent professionals in the field of real estate, banking, investment banking, construction, and legal from the private sector, Sitharaman informed Parliament.