Andhra Pradesh Power Finance Corporation Limited (APPFCL) was incorporated as a Government Company under Companies Act, 1956 on 12th July 2000 and has commenced business on 13th July 2000. APPFCL has also obtained registration from Reserve Bank of India as a Non-Banking Company on 25-8-2000. The object of the company is to support/augment the resources for financing the Power Sector Reforms in the State of Andhra Pradesh.
Andhra Pradesh Power Finance Corporation limited (APPFCL) was established as a Government Company vide G.O.Ms. No. 54 Energy (Power–III) dated 19-05-2000 under the Companies Act, 1956 (CIN: U40109AP2000SGC107482) and commenced business on 13th July, 2000 with 100% ownership by the Government of Andhra Pradesh. APPFCL is also registered with Reserve Bank of India (RBI) as Non-Banking Finance Company (NBFC) – NDSI (Non-Deposit Taking Systematically Important) Company with effect from 25th August, 2000.
The Company being a NBFC is engaged in the business of acquiring shares/debentures from the public/Govt. Companies or trusts, availing Loans from Scheduled Commercial Banks and accepting Inter Corporate Deposits from other Government Corporations for onward lending to Power Generating Companies and Power Distribution companies owned by Govt. of Andhra Pradesh to cater to their infrastructure and working capital needs.
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Chairman and Director
Shri Shamsheer Singh Rawat is a 1992 batch officer of the Indian Administrative Service of Andhra Pradesh cadre. Mr. S.S. Rawat has held several leadership roles during his illustrious administrative career spanning three decades, covering vast field experience, coupled with policy making and implementation responsibilities by serving as Secretary to Government through various important portfolios. Presently, he is serving as Special Chief Secretary to Government, Finance Department. Previously he has led important departments such as Industries, Social Welfare, Rural Development. Mr. S.S. Rawat has also served in the Chief Minister’s Office as Special Secretary to Chief Minister. His rich administrative experience also includes working as VC&MD of Civil Supplies Corporation, and as director on the boards of several public sector undertakings. He was District Collector and District Magistrate of Chittoor district and the Joint Collector Nellore district.
As Special Chief Secretary, Finance Department, Mr. S.S. Rawat has been instrumental in wide scale adoption of information technology solutions in public finance management in order to enhance transparency and credibility of governance.
Managing Director
Dr. K.V.V Satyanarayana, IRAS, is the Managing Director of APPFCL since September 2019. He is also the Secretary Budget & Institutional Finance for the State of Andhra Pradesh and the Secretary Expenditure for certain departments since June 2017. He is one of the Board of Directors in various companies like APGENCO, APTRANSCO, APSPDCL, APIIC, APMDC etc., four Regional Rural Banks and several universities.
A Doctorate in Genetics from IARI, started his career in September 1997 as a Scientist (IARS) and played crucial role in exploration and preservation of wild and endangered plant species germplasm during his one year service in Indian Council of Agricultural Research (ICAR). Subsequently, he joined Indian Railway Accounts Service (IRAS) in September 1998 and served Indian Railways in various capacities for about 19 years. He is working in the Government of Andhra Pradesh on deputation since June 2017.
During the last two and half decades he handled diverse roles in Public Finance Management, Human Resource Management and Project Management etc. Through his extensive experience in resource mobilisation & financial closure, massive public procurements, project appraisal and contract management techniques with special focus on innovations, automation, expenditure optimization, revenue augmentation, systems review & audit, right sizing of manpower and modernisation etc., contributed for providing citizen centric premium quality public services. He also served as a resource faculty on these subjects.
His wealth of knowledge accumulated through trainings at various prestigious institutions like LBSNAA, NIFM, NAIR, NAARM, Harvard Kennedy School, Cambridge; INSEAD, Singapore; ICLIF, Kualalumpur, Beijing Jiaotang University, China; European Business School, London; European Business School, Paris and “Advanced Management Programme on Public Policy” from Indian School of Business (ISB) etc., helped in framing and implementing various policies in Public Finance Management.
His exceptional excellence in academic and professional life enriched with hard work, integrity with notable team work achievements resulted in receiving several accolades and awards including National Award for Outstanding Service.
He has a Bachelor’s and Master’s Degree in Engineering (Electronics and Telecommunications) and worked in ITS Department of Telecommunication, Government of India for six years from 1988 to 1994. Later joined in state service Government of Andhra Pradesh and worked as RDO, PD DRDA, CEO – ZP in various districts. During this he had rich experience in Revenue Administration, Rural Development and contributed a lot for weaker sections and women SHGs. After elevation to IAS he served as Joint Collector, Commissioner GVMC, Vice Chairman – VUDA. He successfully completed his tenure as District Collector in Nellore and Rangareddy Districts. After state bifurcation he worked as Secretary (IT), MD – APIIC, Secretary (Mines) and introduced many reforms for transparency in Administration. For the last three years he is successfully managing the APGENCO with lot of challenges in Power Sector.
Director
Sri V.N. BABU is Professionally Qualified, Cost Accountant and Company Secretary and having membership with the following Institutes.
Sri V.N. Babu has started his carrier with GAIL (India) Ltd, a Central PSU under the Ministry of Petrol and Natural Gas, Government of India. During the tenure in GAIL he worked in various capacities in Financial Accounts Division from 1991 to 2008.
Subsequently, he joined in HLL Life care Limited, a CPSU under Ministry of Health & Family Welfare, Government of India. During his tenure in HLL worked as Vice – President / Project Finance, CFO of HLL Biotech Limited from 2008 to 2012.
Then he joined NLC India Limited (Formerly Neyveli Lignite Corporation Limited), a CPSU under Ministry of Coal, Government of India. During his tenure in NLC he worked as CFO of NLC Tamilnadu Power Limited, and also as GM / CGM & Executive Director (Finance) in NLC India Limited.
Presently he is working as Director (Finance) / CFO in APSPDCL since 11.05.2020.
