The Company promoted by the Murugappa Group wasincorporated on 17th August 1978 with a paid up capital ofRs.25 lakhs as a Public Limited Company. It received itsCertificate of commencement of business on 22.11.1978. In1986 Standard Chartered Bank joined hands with 28%shareholding which was subsequently increased to 30%. TheBank disinvested its holding in 1993 as part of itsstrategic review of investments.BusinessCholamadalam started out as a leasing Company for fundingof industrial plant and machinery.Today it is a composite Financial Services Company engagedin fund based financial services like Hire Purchase LeaseAuto Finance and Trade Finance and in non fund areas likeMerchant Banking. The Company has achieved impressivegrowth rate in these product lines resulting in the totalfund base going upto Rs.174.60 Crores as of June 1994.Cholamandalam has focussed mainly on medium sized clientswith a good track record. The portfolio of industrial hirepurchase and leased assets at profitable rates with arecord of lower operating cost has laid a strong foundationfor steady income growth. Term matching and judicious mixof funds has ensured high degree of financial flexibility.The Company has had a substantial growth in deposit in thepast few years. The Company has been practising a moderaterisk/reward equation in its lending decisions. This hasresulted in a strong financial base.
| Name | Position |
|---|---|
| Mr. Vellayan Subbiah | Chairman & Non-Exe.Director |
| Mr. Ravindra Kumar Kundu | Executive Director |
| Mr. M A M Arunachalam | Non Executive Director |
| Mr. N Ramesh Rajan | Independent Director |
| Mr. M R Kumar | Independent Director |