NLMC to hire company secretary as it preps for commencing operations

SPV is tasked to monetise 3,479 acres surplus land of state-owned firms

The National Land Monetisation Corporation (NLMC) will hire a company secretary for a three-year tenure as the special purpose vehicle (SPV) preps for starting operations soon.

Candidates for the post must not be older than 45, have membership of the Institute of Company Secretaries of India (ICSI), and should have five years of experience with a government-owned company. The three-year post on deputation can be extended by two years.

The candidate selected will draw the same salary and allowances as per their pay scale or grade in the employer central public sector enterprise (CPSE). Perks and performance-related pay (PRP) will as per company policy, the NLMC said.

Once the NLMC is functional, the government aims monetise 3,479 acres of surplus land identified by nine public sector undertakings. The SPV was incorporated on June 3 as a wholly owned government company with an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore.

The government is learnt to have appointed Sanjay Kumar Jain, a joint secretary in the Department of Public Enterprises (DPE), as NLMC’s interim chief executive officer (CEO). Rajesh Kumar Chaudhry, an additional secretary at the DPE, is a director of NLMC.

The board of NLMC consists of the Department of Public Enterprises (DPE) Additional Secretary, the joint secretary handling asset monetisation at the Department of Investment and Public Asset Management, and nominees from the Ministry of Housing and Urban Affairs, Department for Promotion of Industry and Internal Trade, and Department of Heavy Industries.