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Formation of Search-cum-Selection Committee (SC) for selecting a CEO for the Investment Management Company, under the National Investment and Infrastructure Fund (NIIF)
October, 20th 2015
                                             Government of India
                                              Ministry of Finance
                                        Department of Economic Affairs

                                                Press Release

Subject:- Formation of Search-cum-Selection Committee (SC) for selecting a CEO for the
Investment Management Company, under the National Investment and Infrastructure Fund

        With a view to maximizing economic impact mainly through infrastructure development in
commercially viable projects, both greenfield and brownfield, including stalled projects, Government
has approved the creation of National Investment and Infrastructure Fund (NIIF) which aims to attract
investment from both domestic and international sources.

2.      The NIIF will be established as a Trust/other legal entity from the point of view of taxation
and flexibility. There will be a Governing Council of the NIIF which will have Government
representatives and experts in international finance, eminent economists and infrastructure
professionals. It could include representatives from other non-Government shareholders. The terms
and period of appointment of the Governing Council of the NIIF will be as decided by the
Government. The Governing Council will oversee the activities of the Trust and will be constituted as
a separate legal entity, if necessary.

3.       The Investment Management Company would actually be responsible for taking investment
decision of NIIF corpus. The Government's share in the corpus shall not exceed 49%. The
shareholding of the company would reflect the shares of the different investors in the corpus. The
salaries of the Investment Team would be market linked. The salary of the Chief Executive Officer
of the Company would be market linked and he would be expected to achieve ambitious
performance goals with rigorous management output.

4.      Accordingly, it has been decided to constitute a Search-cum- Selection Committee (SC) for
selecting a CEO for the Investment Management Company. The composition of the SC is as below:-

    ( i)           Shri Shaktikanta Das, Secretary, DEA -                   Chairman
    ( ii)          Ms Anjuly Chib Duggal,Secretary, DFS -                   Member
    ( iii)         Ms Arundhati Bhattacharya            _                   Member
    ( iv)          Dr Rathin Roy                        _                   Member
    ( v)           Dr Rajiv Kumar                         _                   Member

                                                                                                   (Chanchal C Sarkar)
                                                                                                         Director (NIIF)
         File No. 10/33/2014-Invt                                                        Dated: 14th October, 2015

Press Information Bureau is requested to give wide publicity to this Press Release.

Press Information Officer,
Press Information Bureau
New Delhi
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