Recent Update on National Land Management Corporation (NLMC)

July 25, 2022

In order to operationalise National Land Management Corporation (NLMC), Central government has appointed a joint secretary to the Department of Public Enterprises (DPE). He will work as an interim chief executive officer (CEO) of special purpose vehicle. He will monetise the surplus land and buildings of public sector undertakings (PSUs).

Sanjay Kumar Jain has been appointed as the interim CEO.
Government has also appointed its nominees to the board of NLMC.
Government will start the process of monetising 3,479 acres of surplus land, that have been identified by nine PSUs, as well as building assets.
Other PSUs and government departments will also prepare a list of assets, to be monetised through NLMC.

The National Land Management Corporation (NLMC);

NLMC was set up on June 3, 2022 as a wholly-owned Government of India company.
Initial authorized share capital of Rs 5,000 crore was fixed apart from paid-up share capital of Rs 150 crore.
It will Hold, own, manage & monetise land and assets of the PSUs which will be closed down
It will look after surplus non-core land assets of government-owned companies as a part of strategic disinvestment.

Structure of NLMC

Directors of NLMC include;

Additional Secretary of Department of Public Enterprises (DPE), Rajesh Kumar Chaudhary.
Joint secretary of Department of Investment & Public Asset Management, who handles the asset monetisation.
Nominees from Ministry of Housing and Urban Affairs, Department of Heavy Industries and Department for Promotion of Industry & Internal Trade.

NLMC will have 13 directors. Out of them, 7 would be government officials and 6 would be officials from private sector. Board will finalise the guidelines and criteria to select the professionals from private sector in real estate, construction, investment banking, and the legal sector.

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