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About - MUIF

The Maharashtra Urban Infrastructure Fund (MUIF) is a Trust Fund set up by Government of Maharashtra and Mumbai Metropolitan Region Development Authority (MMRDA) to help the Urban Local Bodies and other agencies in developing infrastructure for promoting economic progress and improving the quality of life in the urban areas of Maharashtra.

The Trustee of the MUIF is a company called Maharashtra Urban Infrastructure Fund Trustee Co. Ltd. (MUIFTCL), which was jointly set up by the Govt. of Maharashtra and the MMRDA. The MUIFTCL has constituted 3 Funds within the framework of the MUIF, namely,
(1) Project Development Fund
(2) Project Finance Fund; and
(3) Debt Service Reserve Fund.
The MUIF is managed by another company named the Maharashtra Urban Infrastructure Development Co. Ltd. (MUIDCL).

Functions / Objective of MUIDCL

  1. To carry on the business activity of developing projects for urban infrastructure, whether individually or jointly, for any municipal corporation, municipal council, Government or non-Government body, firm, corporate, trust, institution, or any other body ( whether incorporated or not) in India including Mumbai Metropolitan Region and to build consensus on scope and extent of studies required to be undertaken during the project development phase, to finalize the terms of reference for the preparation of project documentation, to appoint consultants with multi-disciplinary expertise for implementing the projects, to conduct feasibility studies, and to do all such activities and things that are required to be undertaken in order to efficiently implement the project.
  2. To carry on the business of conducting field surveys, technical studies, environmental studies, market demand studies, economic and financial analysis, resource mobilization plan, development of contractual framework, risk analysis and allocation whether on a stand alone basis or for any infrastructure project.
  3. To carry on the business of providing financial advisory services, technical consultancy services, investment management and advisory services to any municipal corporation, municipal council, Government or non-Government body, firm, corporate, trust, institution, or any other body (whether incorporated or not) in India in furtherance to the objects stat above.
  4. To study and advice Government in formulating incentive schemes to attract industries, Investments.
  5. To carry out market research and provide related advisory services, market survey and in depth studies and render services for the development of infrastructure projects and to take steps for creation and development of new markets.
  6. To carry on business as administrators and/or managers of investment funds, mutual funds, (both local as well as offshore) growth funds, income or capital funds taxable or tax exempt funds, provident funds, pension funds, superannuating funds, charitable funds, trust funds, investment pool and other person or bodies of persons whether incorporated or not, as part of mutual fund business for investment in equity and other securities to contribute, to the development of capital market and/or for providing facility for participation by subscribers and holders of units in the mutual funds and in the profit or income arising from the acquisition, holding, management and disposal of the securities and other properties whatsoever and for that purpose to promote, establish, manage and carry on various schemes as may be sanctioned by all concerned authorities and conducive to the management of the company concerning shares, stocks, debentures, debenture stocks, bonds, units obligations, securitised debts, promissory notes, participation certificates, policies, money market investment, securities of the Central and State Government, company, corporation, municipal, local or other body or authority or other securities or investments of any kind or description whether in India or in any foreign country whether directly or for the benefit of any person or persons.
  7. To carry on the business of providing financial consultancy services and exchange of research and analysis.
  8. To receive and accept moneys, securities and valuables of all kinds, on deposit or safe custody, and to borrow or raise moneys, either against security or without security, in such manner as the Company or its directors may think fit and in particular of sale, negotiations, transfer, issue or against the security of bills of exchange, promissory notes and other negotiable or transferable or other instruments, debentures, or issue of debentures, debentures stocks, bonds, obligations, mortgages and securities of all kinds either perpetual or otherwise and either unsecured or secured and to secure the repayment of any money borrowed, raised or owing by the Company on any of the specific property, assets and right ( both present and future) including the uncalled capital of the Company or by any other body corporate, firm, trust, co-operative society, Government or authority, Central, State, Foreign, Municipal or Local or other person whomsoever of any obligation undertaken by the Company or by such body corporate, firm, trust.
  9. To act as manager ,consultant and delegate for and render services as such to any persons, body corporate, government, state, dominion, sovereign, public body, statutory body or other local authorities for any purpose, including but not limited to matters related to administration of any fund, stator or otherwise.
  10. To carry on the business of providing finance to any person, firm, body corporate or any association of persons in the form of long, medium or short terms loans, with or without interest and/or without security, equity participation, sponsoring and underwriting new issues of shares and securities, guaranteeing and /or counter-guaranteeing loans from other investment sources and making funds available for reinvestment by revolving investment as rapidly as prudent.
  11. To carry on activities with a view to encourage savings and investments and participations in income, profits and gains accrued to the company from the acquisition, holding, management and disposal of securities and to sell and purchase units.
  12. To carry on the business of giving guarantees or counter guarantees for payment or performance of any debts, contracts, obligations, or become sureties for any person, firms, Company or any association of persons for any purpose whatsoever.
  13. To promote, organize, manage, hold, dispose off or deal with shares or securities of Unit Trust or other mutual funds whether of fixed or variable character.
  14. To act as agents for the collection, receipt or payment of money and to act as agents and administrators for and render services to any person, firm, company, or association of persons, Government, State, Dominion, sovereign, public trust, statutory body or other local authorities in that regard.
  15. To facilitate and encourage the creation, issue or conversion of debentures, debenture-stock, bonds, obligations, shares, stocks and securities and to act as trustees in connection with any such securities and to take part in the conversation of business concerns and undertakings of the Companies.
  16. To purchase, take in exchange or on lease, rent, hire, lease out, occupy, allow to be occupied or otherwise and use any freehold, leasehold, or other immovable property and any lands, forests, plantations, estates, shops, warehouse, showrooms, workshops, offices, buildings, premises, works, plant and machinery, stock-in-trade, waterways, easements, or other immovable or movable, real, or personal property or right which the Company may think necessary or convenient for the purpose of its business, either in consideration, of a gross sum or of a rent charged in cash, services or kind or on perpetual lease rent or partly in one way and partly in another or others. To constitute, undertake, execute or administer any trust or funds as may seem desirable and either gratuitously or otherwise.
  17. To constitute any trusts and act as and to exercise powers of trustees, executors, administrators, receivers, treasurers, attorneys, nominee and agents and to undertake and execute agencies and trust of all kinds and to exercise all the powers of custody and trust corporations.
  18. To appoint trustees (whether individuals or corporations) to hold securities on behalf of and to protect the interests of the Company.
  19. To borrow or raise money, at interest, or otherwise in such manners as the Company may think fit and in particular by the issue of debentures or debenture stock, bonds, securities or otherwise including debenture or debenture stock convertible into shares of this or any other company or companies or perpetual annuities and issuable or payable at par, or at a premium or discount and in security of any such money so borrowed, raised or received, to mortgage, hypothecate, pledge, securities, or change the whole or any part of the property, assets or revenue of the Company, present or future including its uncalled capital by special assignment or otherwise and to transfer or convey the same absolutely or in trusts and to give the lenders' power of sale and other powers as may seem expedient and to buy, redeem, exchange, vary, extend or units off and from time to time re-issue any such securities. But the Company shall not do any banking business as defined in the Banking Regulations Act, 1949 subject to the provisions of section 58-A and directives of Reserve Bank of India
  20. To secure the payment of any moneys borrowed or raised or owing or the performance of obligations incurred by the Company by the creation and issue of redeemable or irredeemable or perpetual debentures, bonds, debenture stock payable to bearer or otherwise or by mortgages, charges, or other securities and to further secure or collaterally secure any securities of the Company by a trust deed or otherwise.
  21. To secure or discharge any debt or obligation of, or binding on the Company in such manner as may be thought fit and in particular by sale, mortgage and/ or charge, exchange, lease or license, upon the understanding and all or any of the assets and property (present and future) and the uncalled capital of the Company or by the creation and issue, on such terms as may be thought expedient, of debentures, debenture stocks, or other securities of any description or by the issue of shares credited as fully or partly paid-up.
  22. To acquire and undertake the whole or any part of the goodwill, business, concern, undertaking, property, rights, assets, and liabilities of any person, firm, association, society, company, or corporation carrying on any business which the Company is authorised to carry on or suitable for the purpose of the Company and to pay for the same by shares or debentures or by any other securities of this Company, or by cash or otherwise, or partly in one way and partly in another way and to conduct, expand and develop or wind-up and liquidate such business and to purchase and take steps for the acquisition of existing and new licenses in connection with any such business.
  23. To provide consultancy services related to infrastructure development and infrastructure management for all kinds of infrastructure activity in India.
  24. To apply or join in applying to any Central or State Government, local improvement trust, municipalities or local board or other authority or body, national or foreign for and to obtain or in any way assist in obtaining any act of parliament, laws, decrees, concessions, orders, rights or privileges or advantages that may seem conductive to the objects of this or any other company or for enabling this or any other company's constitution to oppose any proceedings, or applications or any other company to be legalised, registered or incorporated if necessary in accordance with the laws of any country, state or place in which it may propose to carry on operation to establish, and maintain any agencies, of the Company and to open and keep a foreign register or registers of this or any other company in any foreign country and to allocate any shares in this or any other company to such register or registers.
  25. To enter into joint venture or to collaborate with Indian or foreign individuals, firms, companies, or corporations or body corporate, for acquiring or offering technical know-how, or to employ foreign technicians, experts, advisers, consultants, engineers, workmen, solicitors, advocates, insurers, advertisers selling and buying agents and/or others on a contract.
  26. To establish, promote, form, subsidise, aid, acquire, organise, or be interested in any other company or companies, having similar objects.
  27. To amalgamate with any other Company having objects altogether or in part similar to those of the company.
  28. To enter into partnership or into any arrangement for sharing profits, union of interest, co-operation, joint venture, reciprocal, concession, licences, or otherwise, with any person, firm, association, society, company, or corporation and to give any person, firm, or company, special rights, licences and privileges in connection with the above.
  29. To enter into any contract or arrangement with any Government, semi government, Government department, or authority, municipal, local or otherwise that may seem conducive to the Company's objects or any of them and to obtain from any such Government or authority any rights, privileges and concessions.
  30. To invest and deal with the moneys of the Company not immediately required in immovable properties, shares and stocks, bonds, debentures, obligation or other securities and in such manner as may from time to time be determined by the directors and particularly by way of advance or deposit with or without interest to or/ any person, firm, company, corporation, financial institution or banks.
  31. To take or otherwise acquire and hold, sell, exchange, mortgage, charge, or otherwise deal with shares or stock of any other company having objects altogether or in part similar to those of the company.
  32. To employ experts to investigate and examine into the conditions, prospectus, value, character and circumstances of any business, concerns and undertakings and of any assets, property or rights.
  33. To improve, manage, develop, mortgage, charge, sell, transfer, exchange, lease, under-lease, surrender or otherwise deal with, dispose all or any part of the business, , immovable or movable property, rights and effects for the time being of the Company in such manner, on such terms and for such purposes as the Company may think fit and as to any sale of real property either in consideration of a gross sum or of a rent or otherwise and to sell, transfer, or dispose of the whole undertaking of the Company or any part thereof, for cash or such other consideration as the Company may think fit, and in particular for shares, debentures, or securities of any other company having objects altogether or in part similar to those of the Company, or otherwise.
  34. To pay for any property or rights acquired by the Company either in cash or fully or partly paid shares or by the issue of securities or partly in one mode and partly in another and generally on such terms as may be determined.
  35. To communicate with Chambers of Commerce and other mercantile and public bodies in India and elsewhere, and concert and promote measures for the protection and advancement of trade, industry commerce and other facilities.
  36. To remunerate any person, firm, company or association of person for services rendered or to be rendered to or on behalf of the Company.
  37. To apply for, purchase or otherwise acquire and protect, prolong and renew, whether in India or elsewhere, any patents, patent rights, copy rights, brevets d'invention, recipes, trademarks, concessions, formulae, licences, designs, and the like conferring and exclusive or non-exclusive or limited right of use, or any secret or other information as to any invention, process, or privilege which may seem capable of being used for any of the purpose of the Company, to use, exercise, develop, manufacture, under, or grant licences or privileges in respect of or otherwise to turn to account the property rights, or information, use or licence so acquired, and to subsidise, take part in or assist in any experiments investigations and researches likely to prove beneficial to the company.
  38. To provide for the welfare of any of the employees or past employees or to the Directors or ex-directors and the wives, widow, families, dependents, or connections of such persons by grants of money, donations, allowances, bonuses, or other payments, from time to time; or by creating and from time to time subscribing to provident fund and other funds, institutions, associations, or trusts, and by providing, subscribing or contribution towards places of recreation, schools and other educational institutions, hospitals, dispensaries, medical and other manner as the Company may think fit.
  39. To draw, make, issue, endorse, negotiate, execute or discount bills of exchange, cheques, promissory notes, drafts, clean bills, hundies, bills of lading, railway receipts, warrants, debentures, and other negotiable or transferable instruments or documents of title and to buy or sell or deal in the same.
  40. To open current, overdraft, loan, cash credit deposit or saving bank account in India or abroad with any bank, financial institution, and to draw and endorse cheques, pay-slips, telegraphic transfer, electronic transfer and to withdraw moneys from such account and otherwise to operate same.
  41. To promote and form and to be interested in and take hold of and dispose of shares in other companies for all or any of the objects mentioned in this Memorandum and to subsidise or otherwise assist and such company.
  42. To pay out of the funds of the Company all expenses of and incidental to the promotion, formation, organisation, registration, advertisements and establishments of the Company and the issue and subscription of shares or loan capital including brokerage and/ or commission in respect thereof and printing, stamping, circulation of proxies and forms to be filled up by the member of the Company.
  43. Subject to the provision of the Companies Act, 1956 to place to reserve or to distribute as bonus, shares among the members or otherwise to apply as the Company may from time to time think fit, any moneys received by way of premium on shares or debentures, bonds or other securities issued at premium by the Company.
  44. To insure against loss of moneys, principal and interest lent, invested or secured as mortgage, debenture deposit and other securities and loans of every kind and to banking, property, investment or financial companies.
  45. To establish, maintain and conduct or discontinue or close agencies and branches and appoint representatives, agents, stockists, distributors, dealers and brokers in any part of the world for the conduct of the business of the company.
  46. Subject to the provisions of the companies Act, 1956, to distribute any of the property of the Company amongst the member in specie or in kind in case of winding up of the Company.
  47. To subscribe to or otherwise aid benevolent, charitable or other institutions or objects of a public character or which have any moral or other claim or support on aid by the Company by reason of the locality of its operations or otherwise.
  48. To create any Depreciation Fund, Reserve Fund, Sinking Fund, Insurance Fund, or any other Special Fund, whether for depreciation or for repairing, improving, extending, or maintaining any of the property of the Company or for any other purpose conducive to interest of the Company.
  49. To refer any claims, demands, disputes or any other question by or against the Company or in which the Company is interested or concerned and whether between the Company and the member or members or his or their representative or between the Company and third parties to arbitration in India or at any place outside India and to observe, perform and to do all acts, deeds, matters, and things to carry out or enforce the wards.
  50. To procure or recognition of the Company in any country, state or place and to establish and regulate agencies for the purpose of the Company's business.
  51. To do the above things in all or any of the State in India and/ or in any part of the world and either as principals, agents, contractors, trustees, or otherwise and by or through trustees, attorneys, agents or otherwise and either alone or in conjunction with others and to do all such other thing as are conducive or incidental for the attainment of the above objects or any of them.
  52. To advise State Government or any other body or person for setting up of industrial estates for infrastructure development.
  53. To indentify officers, Directors, Agents, and employees of the Company against proceeding, costs, damages, claims, and demands in respect of anything, done or ordered to be done by them for and in the interest of the Company or for any loss, damages or misfortune whatever which shall happen in execution of the duties of their office or in relation thereto.

Other Objects :

  1. To carry on the business of an investment company and to buy, undertake. Invest acquire and hold shares, stock, debentures, debenture stock, units, bonds, obligations, mortgages, and securities of any kind issued or guaranteed by any company, corporation or undertaking by constituted or carrying on business in India or elsewhere and debenture, debenture stock, bonds, obligation and securities, issued or guaranteed by any central and/or state government, public body or authority; municipal, local or otherwise or by firms or other persons whether in India or elsewhere by way of original subscription, participation, tender purchase, exchange, or otherwise, and to subscribe for the same either conditionally or otherwise and to carry on the business of merchant banker, lead managers, issue houses, discount houses, financial/ management advisors and consultants, registrar and transfer agents, portfolio managers, analysts and researchers.
  2. To negotiate and enter into agreements and contracts with foreign or other companies, firms and individual for technical assistance, know-how and collaboration in settings up and operation of the undertaking or undertakings, manufacturing, marketing, importing and exporting of the equipments, plants, apparatuses, and other articles and things or any of them for all or any of the business of the company including plant, machinery and raw-material required for the purpose.
  3. To carry on the business of consultants, advisers, experts, and technical collaborators in matters pertaining to investment, finances, management, prospecting and projecting of business and valuation of undertaking, business concerns, assets, concession, properties or rights and to employ experts for any of these purposes.
  4. To undertake, carry out, promote and sponsor any activity for publication of any books, literature, newspapers or for organising lectures, conference or seminars, workshops, training programs for giving merit awards, scholarship, loans or any other assistance to institute, deserving students or academic pursuits or research and for establishing assistance to any institutions, fund, trust.
  5. To carry on business of finance Company and to finance industrial and private sector enterprises.
  6. To provide information and guidance on government policies and regulations and to assist in obtaining various consents, approvals, from Government or other authorities or agencies which may be required for establishing an undertaking or in its diversification/expansion.
  7. To acquire and hold one or more membership in stock/security exchanges, trade associations, commodity exchanges, clearing houses, or association or otherwise in India or any part of the world, to secure membership privileges therefrom and to acquire and hold membership in any association of bankers, merchant bankers, insurance companies, brokers, security dealers, or commodity dealers or any other association membership of which will or is likely in any way to facilitate the conduct of the Company's business.
  8. To act as agent's brokers, indenters, sellers, buyers, exporters, importers, manufacturers, merchants, tradesmen, insurers, and sub agency work of any kind whatsoever and transact all manner of agency and commission business.
  9. To carry on the business of acting as liquidator, receivers, assignees, custodians, trustees and in any other capacity to look after, administer, manage, receive, release and distribute any property or estate including any enforcement proceeds thereof for the benefit of creditors, claimants, charge holders and other persons interested therein.
  10. To carry on business of dealers in and brokers of currencies, whether Indian rupees or any other currencies and / or otherwise dealings in currencies and foreign exchange including to grant foreign exchange cover on a spot delivers or on a forward cover basis.
  11. To take part in the management, supervision or control of the business or operations of any company, association, firm or person.
  12. To carry on the business of auctioneers, valuers, surveyors and appraisers of all kinds of properties, good and claims.
  13. To carry on the business of buying, selling, hire-purchase or otherwise dealing in all types and kinds of plant, machinery, equipment, property and assets whether movable or immovable including all kinds of goods, articles or things including vehicles, ships, aircrafts, office equipments, computers, satellite, land, building etc.
  14. To carry on the business of hire-purchase, finance or leasing of all consumer, industrial and commercial durables, properties, assets, vehicles, machinery, equipment, tools and instruments of all descriptions, household equipments and immovable properties of every descriptions.
  15. To carry on business as agents, in respect of all classes of insurance including marine, fire, life, accident, burglary, workmen's compensation, indemnity and motor insurance.
  16. To render technical assistance and services including maintenance in connections with any machines, systems, components and programme products and provide consultancy services related to the preparation and maintenance of accounting, statistical or mathematical information and reports, data processing, programming and for all other related business.
  17. To carry on business of leasing and letting on lease, hire purchase and letting on hire of movable properties of all kind.
  18. To act as trustees for debenture holders, bond holders, mutual funds and other purposes herein mentioned.
  19. To carry on the business of consultants, advisors, Experts, Analysts and researchers in the field of finance including credit analysis and assessment and capital and money market research and information services.