G.O.(Ms) No.19, Reconstituting Investment Committee of Tamil Nadu Shelter Fund, 2023
The Housing and Urban Development Department issued G.O.(Ms) No.19 on 8 February 2023 to reconstitute the Investment Committee of the Tamil Nadu Shelter Fund with effect from 20 May 2022. It appoints Mr. S. Mahalingam, Dr. N. Sundaradevan and Dr. P. Jayapal to the committee, which approves, monitors and reviews exits from fund investments.
What the government order does
The Housing and Urban Development Department issued G.O.(Ms) No.19 on 8 February 2023 to approve the reconstitution of the Investment Committee of the Tamil Nadu Shelter Fund. The new committee composition applies with effect from 20 May 2022.
The Tamil Nadu Shelter Fund had previously been directed to be registered by the Tamil Nadu Infrastructure Fund Management Corporation Limited as a Category-I Social Alternate Investment Fund with the Securities and Exchange Board of India.
Committee members
G.O.(Ms) No.19 appoints the following members to the Investment Committee of the Tamil Nadu Shelter Fund:
- Mr. S. Mahalingam
- Dr. N. Sundaradevan
- Dr. P. Jayapal
The committee is an independent investment body appointed as part of the fund's structure. Its functions are to:
- Approve investments made from the fund.
- Monitor those investments.
- Review exits from those investments.
Why the committee was changed
The Board of the Tamil Nadu Infrastructure Fund Management Corporation Limited had earlier reconstituted the committee in March 2022 with Mr. Arun Ramanathan, Mr. S. Mahalingam and Dr. N. Sundaradevan. Following the resignation of Mr. Arun Ramanathan, the Board inducted Dr. P. Jayapal and reconstituted the committee with effect from 20 May 2022.
The Chief Executive Officer of the Tamil Nadu Infrastructure Fund Management Corporation Limited then requested government orders confirming the revised membership. The government accepted that proposal. The order was issued with the concurrence of the Finance Department.
Investor approval requirement
G.O.(Ms) No.19 records that the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2020 require approval from investors representing 75% of the value of investments in the fund to formalise the appointment of external members to the Investment Committee.
Relevance to property owners and buyers
G.O.(Ms) No.19 concerns the internal investment governance of the Tamil Nadu Shelter Fund. It does not state any change to land ownership, property registration, planning permission, land classification, development rights or charges payable by a property buyer or owner.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does G.O.(Ms) No.19 change my land title or property rights?
No change to land title or property rights is stated. The government order only reconstitutes the Investment Committee of the Tamil Nadu Shelter Fund.
Who are the members of the reconstituted Investment Committee?
The members are Mr. S. Mahalingam, Dr. N. Sundaradevan and Dr. P. Jayapal.
From what date does the new committee composition apply?
The reconstituted committee applies with effect from 20 May 2022.
What does the Investment Committee do?
The committee approves and monitors investments made from the Tamil Nadu Shelter Fund and reviews exits from those investments.
