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Formation of SPV.IE.SPECIAL PURPOSE VEHICLE

Querist : Anonymous (Querist) 10 January 2010 This query is : Resolved 

CAN A PRIVATE LIMITED COMPANY BEING PROJECT MANAGEMENT CONSULTANT ITSELT BE A PROJECT APPROVED COMMITEE AND CREATE ITS SPV INCLUDING ITS DIRECTORS AND SEPECIFIC FIELD RELATED ENGINEERS.
CAN THERE BE A COMMON SPV FOR 2 PROJECTS I.E INTEGRAL TEXTILE PARK AND MEGA FOOD PARK OF SINGLE COMPANY

PLEASE GUIDE ME
Raj Kumar Makkad (Expert) 10 January 2010
If the company is performing role of just Project Management consultant then within rules it cannot be a Project Approving committee.

No there can not be a common SPV for 2 projects of single company.
A V Vishal (Expert) 10 January 2010
SPVs are mostly formed to raise funds from the market. Technically, an SPV is a company. It has to follow the rules of formation of a company laid down in the Companies Act. Like a company, the SPV is an artificial person. It has all the attributes of a legal person. It is independent of members subscribing to the shares of the SPV. The SPV has an existence of its own in the eyes of law. It can sue and be sued in its name. The SPV has to adhere to all the regulations laid down in the Companies Act. Members of an SPV are mostly the companies and individuals sponsoring the entity.


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