After formation of New Telangana state, the old AP State Minorities Finance Corporation has been divided into Telangana State and Andhra Pradesh Minorities Finance Corporations, as per the AP Reorganisation Act.
The Telangana government issued orders on Tuesday for creation of the TSMFC under the Companies Act, 2013.
The Secretaries of Minorities Welfare Department, Finance Department and the Director, Minorities Welfare, will be on the Board of Directors of TSMFC.
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Telangana Minorities Finance Corporation
The new Corporation, which will have its office on the 5 floor of the Haj House, Nampally, has to be registered under Section 25 of the Companies Act within 15 days. The APSMFC will function from the 6 floor.
On the same lines, the government has also created the Telangana State Christian (Minorities) Finance Corporation by divided the existing AP State Christian (Minorities) Finance Corporation.
Assets, liabilities and employees apportionment of the new bodies will be done in the ratio of 52:48 in accordance with the AP Reorganisation Act.
S.A. Shukoor, who headed the APSMFC till now, will be the in-charge of the Telangana unit, while Shaikh Mohd Iqbal, Commissioner, Minorities Welfare, AP will take over the other body.
Interestingly, the AP government issued orders last week relieving Prof. Shukoor of the full additional charge of the APSMFC on his request, but the TS government refused to follow suit since the bifurcation of the Corporation was in the offing. Prof. Shukoor, who also heads the Haj Committee, Urdu Academy and CEDM, wanted to be relieved of the additional responsibilities on health grounds.
Bifurcation of the Wakf Board and the AP Urdu Academy is also on the cards. The latter has to send a formal resolution in this regard for the government to issue orders for registration of the Telangana State Urdu Academy.
Clikc here for official website : http://www.telangana.gov.in/departments/minorities-welfare