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Advisory Note No. 3 Advisory Note No. 3

Advisory Note No. 3 on Engagement of Key Managerial Posts and Human Resources in SPVs 

Subject: Engagement of Key Managerial Posts and Human Resources in SPVs

The SPV will be required to appoint Key Managerial Persons (KMPs) i.e. Chief Executive Officer, Company Secretary and Chief Finance Officer as per requirement of the Companies Act, 2013. In addition SPVs may also need to engage other Human Resources as provided in its organogram in the Smart Cities Proposal (SPV). Different cities have given different organograms in their SCPs, leading to different human resources requirement of Smart Cities.