Bhubaneswar, June 11 -- https://images.odishatv.in/uploadimage/library/16_9/16_9_0/recent_photo_1749613655.webp
In a major decision, the Union Housing and Urban Affairs Ministry has issued an advisory for states repurposing of Smart Cities' Special Purpose Vehicles (SPVs).
The Smart Cities Mission (SCM) launched in 2015 marked a significant shift in urban development strategy by promoting city-level innovation and integrated infrastructure delivery.
Under the Mission, Special Purpose Vehicles (SPVs) were established in all 100 selected cities under the Companies Act, 2013, with a 50:50 equity share holding between State/UT governments/administration and respective Urban Local Bodies (ULBs) as promoters.
In the past decade, SPVs have dem...