Bhubaneswar: The Odisha Government has decided to extend the area of operation of Capital Region Urban Transport (CRUT) to the urban cluster areas in Sambalpur, Jharsuguda and Ganjam districts.
The urban cluster areas covering Sambalpur-Jharsuguda-Brajarajnagar-Belpahar cluster and Berhampur-Gopalpur-Chhatrapur-Hinjilicut-Digapahandi cluster have been covered under the operational jurisdiction of CRUT for running Mo Bus services in the district of Sambalpur, Jharsuguda and Ganjam for providing “Mo Bus” service.
Chief Minister Naveen Patnaik has approved the service basing on the people’s demand.
“The Government after careful consideration have been pleased to extend the area of operation of Capital Region Urban Transport (CRUT) to the urban cluster areas covering Sambalpur-Jharsuguda-Brajarajnagar-Belpahar cluster and Berhampur-Gopalpur-Chhatrapur-Hinjilicut-Digapahandi cluster under the operational jurisdiction of CRUT for running Mo Bus services in the district of Sambalpur, Jharsuguda and Ganjam for providing “Mo Bus” service on Gross Cost Contract Model”, according to a notification issued by the Housing & Urban Development Department
The Western Odisha Urban Transport Service Limited (WOUTSL) and Ganjam Urban Transport Service Limited (GUTSL) for providing City Bus Service in Sambalpur-Bargarh-Tharsuguda and Berhampur-Chhatrapur-Gopalptir-Hinjiticut urban cluster shall be closed/dissolved by the process of voluntary winding up under Section 59 of the insolvency & Bankruptcy Code 2016 and in compliance with the provisions of The Companies Act, 2013 including applicable Rules & Regulations under the said Act (s), on commencement of “Mo Bus” service by CRUT in the above mentioned extended service areas.
The WOUTSL and GUTSL will take immediate steps to complete audited Financial Statements for the Financial Year 2022-23. WOUTSL & GUTSL Managements shall take necessary steps for transfer of their entire paid-up share capital to CRUT at par by keeping the existing Shareholders of WOUTSL & GUTSL, as holder of one share each on behalf of CRUT (CRUT being the beneficial owner) as per the provisions of Section 89 of The Companies Act, 2013 and Rule 9 of The Companies (Management and Administration) Rules, 2014, the notification stated.
The unspent grant amounts lying with WOUTSL and GUTSL Bank Accounts together with up-to-date interest earned thereon shall be transferred by the respective SPVs to CRUT account immediately. The ownership of all the Buses of WOUTSL and GUTSL shall be transferred in the name of CRUT. Steps will be taken by WOUTSL and GUTSL to transfer land and buildings, Bus Queue Shelters (with advertising rights) if any, in the name of WOUTSL and GUTSL to CRUT. CRUT will retain the revenue generated out of advertisements, it added.
The income earned from the day-to-day operations of these SPVs up to the date of their dissolution will be continued by them in the revenue accounts as maintained by the respective SPVs and the amounts from these revenue accounts shall be used for payment of different heads of expenses and the balance amount will be distributed as decided by the Board of Directors of the respective SPVs and the Liquidator, it further stated.