K-RIDE
In September 2000, the Government of Karnataka (GoK) and Ministry of Railways (MoR)
signed an MoU to set up a Joint Venture Company called “ Rail Infrastructure
Development Company ( Karnataka) Limited – K-RIDE”.
Objective : To expedite development and implementation of 4 identified Railway Projects
in Karnataka viz:
1) Hubli – Ankola New Line
2) Hospet – Guntakal Doubling
3) Sholapur – Gadag Gauge Conversion 4) Hassan – Mangalore Gauge Conversion
Nov’ 20, 2000 : Registered as a Public Limited Company under Companies Act,1956.
Oct’ 22, 2001 : Government Order issued vide IDD Letter No. 10 NSW 2001.
This SPV with financial participation by the MoR, GoK, FIs/Banks, etc. was set up to
meet the objective of funding certain identified projects in Karnataka, particularly those
with potential for attracting private investment.
Nov’2002 : Shareholders’ Agreement Signed.
Authorized Capital
Rs. 5.00 Crores
Share Capital Issued
Rs. 5.00 Lakhs
Share Application Money
Held
Rs. 4.95 Crores
Pattern of Contribution
GoK
26%
Rs. 1.3 Crores
MoR
26%
Rs. 1.3 Crores
iDeCK
48%
Rs. 2.4 Crores
Investment Done : Rs. 2.00 Crore in HMRDC
Board of Directors
Sl.
No
.
Name
Designation
1.
Dr. Rajkumar Khatri, IAS
Secretary to GoK, IDD & Chairman/K-RIDE
2.
Mr. Niraj Kumar
Executive Director/ Perspective Planning,
Railway Board/MoR
3.
Mr. B.N. Mohapatra
Executive Director/ Finance – Expenditure - 1,
Railway Board, MoR
4.
Mr. Vinay Singh, IRSE
Executive Director/ Works, Railway Board,
MoR
5.
Mr. Randeep D
Deputy Secretary to GoK, FD (B & R)
6.
Mr. Anil B. Shenoy
CFO/CS, iDeCK
Functional characteristics
As per MOU, K-RIDE was to fund all the projects under its own name,
mobilize equity from strategic investors and debt funds from financial
institutions
As per Government Order role of K-RIDE was changed from an
implementing agency of the projects...