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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...