Organisation

In May 1997, the Ahmedabad Municipal Corporation launched a Special Purpose Vehicle (SPV) - the Sabarmati Riverfront Development Corporation Limited (SRFDCL) under Section 149(3) of the Indian Companies Act, 1956. The SRFDCL was provided with a seed capital of Rs. 9 crore and entrusted with the responsibility of developing the riverfront on a Build, Maintain, Operate and Transfer (BMOT) basis. The SPV model was used to avoid the delays associated with municipal decision-making. Riverbed land, which was originally held by the Government of Gujarat, was transferred to the AMC. AMC has, in turn, granted development rights to SRFDCL for this reclaimed land.

board-of-director-srfdcl

Board of Directors

The Board of Directors comprises of the chairperson of SRFDCL, Municipal Commissioner -AMC, Deputy Commissioner - AMC, an ex-Member of Parliament, Mayor of Ahmedabad, Chairman of Standing Committee - AMC, Collector of Ahmedabad and the Deputy Municipal Commissioner (Finance).