First SWACHH KOSH Launched by Aquakraft Projects Pvt Ltd

by Shrutee K/DNS

SWACHH KOSH focused on funding interventions under the SWACHH BHARAT ABHIYAAN

Approx USD 10 million to be raised initially through Donors – Corporates under CSR, Individual – Domestic & International

Mumbai, Feb 13, 2018: Aquakraft Projects Pvt Ltd., announced the launch of SWACHH KOSH in partnership with Sri Ramalingeswara Weaker Section Housing Co-operative Trust (SRWT), a charitable trust based in Hyderabad  & Maitreyi Capital Advisors Pvt Ltd., a Mumbai based Asset Management Company. SWACHH KOSH is a captive fund of Aquakraft to implement its flagship integrated socio economic program, SWACHHAGRAHA.

SWACHH is an acronym for Sanitation & Water for Community Health & Hygiene. AGRAHA is an invitation to all stakeholders across Volunteers, Donors, Non Profits, NGOs, Social Financial Institutions, Corporates, Multilateral Agencies, Elected representatives such as Corporators /MLAs / MPs /Govt., & Institutional Stakeholders, Academia to join together for a CLEAN, GREEN, HEALTHY & NEW INDIA.

 “SWACHH KOSH is a unique social development fund aimed at aggregating Social Capital /CSR Capital for implementation of SWACHHAGRAHA. The aim of SWACHHAGRAHA is to initiate a movement that pervades one and all, making the basic amenities of life such as water, sanitation, hygiene, accessible and available, with the motto to provide a better standard of living in the long run. Each of the initiatives to be undertaken under SWACHHAGRAHA endorses one or more of the schemes and programmes launched by our Hon’ble Prime Minister Shri Narendra Modiji, in order to collectively realize the dream of a NEW INDIA within a span of 5 years, in 2022, marking 75 years of our independence and also from the perils of contaminated water and lack of sanitation leading to better health & hygiene. A special impetus would be towards the Indian Diaspora abroad to participate in the development of INDIA under the aegis of our Hon'ble Prime Minister's inspired and dedicated leadership.” Said “SwachhShree” Dr. Subramanya Kusnur, Chairman & Managing Director of Aquakraft & Architect of SWACHHAGRAHA.

Commenting on the partnership, Shri T.S.N.Murthy, Chief Functionary of Sri Ramalingeswara Charitable Trust said “ The objectives of SWACHHAGRAHA are directly aligned with the objectives of our Trust which is to enrich the and empower the lives of the underprivileged and people under BPL. The Trust is registered u/s 12A, 80G & 35AC of Income Tax Act 1961 & under FCR Act 1976 which enables us to accept contributions both within India & abroad and donors can claim benefits under relevant sections accordingly. Sponsorships will be accepted for various elements of SWACHHAGRAHA across Drinking Water Systems, Toilets, Sanitary Pads, Skill Development, and Outreach Programs such as Advocacy, Campaigns & Workshops. A separate designated account will be opened for SWACHH KOSH for better governance & transparency. Based on existing projects it is estimated to rasie around USD 10 million in the initial stage.”

SWACHHAGRAHA is an all inclusive program which aggregates all the stakeholders together and SWACHH KOSH is a unique innovation of Dr Subramanya Kusnur which seamlessly blends a non profit, Sri Ramalingeswara Charitable Trust to enable donor participation while enjoying benefits under relevant sections of Income Tax alongwith an asset management for effective fiduciary management & prudence. We at Maitreyi Capital Advisors will be the Asset Management partners of SWACHH KOSH from a Fund utilization / management, Audit & compliance standpoint. This tripartite partnership creates the right blend of maker & checker framework which will give immense comfort to the Donors.” Said Mr. Sanjay Yashroy (ex - IRS 1993) Director – Maitreyi Capital Advisors Pvt. Ltd.

 “It has been a great experience over last 5 years as we presented & executed several elements of SWACHHAGRAHA to various corporates under their CSR. Also the interest from the Indian diaspora has been very encouraging to participate in SWACHHAGRAHA, which enables them to connect to their roots. SWACHH KOSH gives us the greater ability to include a large section of individual donors (domestic & international) who want to make a difference in peoples lives. Having said that, it has been our strong endeavor towards maintaining highest levels transparency & compliance and hence have structured a totally process driven digital framework for the operations of SWACHH KOSH, which will be a great element of comfort to all our stakeholders. At any given point, through a login and password, one will be able to see entire details of the program that they have funded on our website.” Said C. Sridhar, Director – Enterprise Governance, Aquakraft Projects Pvt Ltd.

About Sri Ramalingeswara Charitable Trust

Sri Ramalingeswara Weaker Section Co-operative Housing Society is a charitable Trust registered vide Regn. No. TBC 271/1980 and is also registered under section 12A, 80G & 35AC of the Income Tax Act 1961 & under F.C.R. Act 1976. The Trust is based in Hyderabad and has a principal objective of upliftment of the weaker section of the society and people below poverty line by providing livelihood opportunities and basic amenities.

About Aquakraft

Aquakraft Projects Pvt Ltd., is an innovation based next generation for profit social enterprise focused on making clean drinking water & sanitation to one and all. As a part of its continuous innovation it has developed a unique socio economic model, aquatm – Water ATM that seamlessly enables use of Green technology, financial inclusion, skill development, women empowerment & sustainable development while delivering clean drinking water.

About Maitreyi

Maitreyi Capital Advisors Pvt. Ltd. is an asset management company founded by seasoned London Business School alumni. It aims to provide global and Indian investors differentiated, thematic investment, fund management and governance services focused on technology, cleantech and social impact initiatives. The first fund, Maitreyi Digital India Fund, is a SEBI-registered, US FATCA compliant, AIF Category II fund.