Section 10 in THE ANDHRA PRADESH STATE DEVELOPMENT CORPORATION ACT, 2020
10. Core activities of the Corporation -
Subject to the provisions of this Act and the rules and regulations made there under, the core activities of the Corporation shall be the following:(a)to fund and finance, the specific social & economic projects and activities, entrusted by the Government to the Corporation;(b)to work towards the fulfillment of core objective, as stated above through innovative financing, wider market outreach and deeper access to the market participants;(c)to mobilize resources from banks, financial institutions,non- banking financial companies, investors, contributors and others through the escrow of the assigned cash flows and follow the principles of fiscal prudence while managing the activities;(d)to raise money from capital markets (domestic and international), money markets, borrowings from banks, financial institutions and other instruments in compliance with various statutes, rules, regulations as prescribed by various statutory and regulatory authorities;(e)to receive any grants, subventions, donations and gifts from the State/ Central Government or undertakings of State / Central Government or foundations/CSR/charitable/philanthropic organisations across globe or funding from multilateral/bilateral/ development organisations or from institutions/persons for meeting the above objectives;(f)to issue shares/bonds/debentures/bills/anyother instruments dependent on the structure of financing and as per the Provisions of the Companies Act, 2013(Central Act No.18 of 2013.), SEBI regulations (if applicable) and other applicable laws;(g)to establish or promote or concur in establishing any companies or trusts or societies or fund which may directly or indirectly help in achieving the core objectives of the Corporation;(h)to enter any arrangements with the Government or any of its undertakings in fulfilment of its core objectives;(i)to ensure that there is proper utilization of the funds in accordance with its core objectives.
