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Cholamandalam Investment and Finance Company gets nod for Scheme of Amalgamation

16 May 2013 Evaluate

Cholamandalam Investment and Finance Company has received an approval from High Court of Madras on May 13, 2013 for Scheme of Amalgamation for merger of the Company’s wholly owned subsidiary Cholamandalam Factoring (CFACT) with itself, with effect from the appointed date i.e. April 01, 2012.

Earlier, the board of directors at its meeting held on October 30, 2012 has approved for the same.

Cholamandalam Investment is among the top 5 NBFC’s in the country operating in vehicle finance, home equity, corporate and mortgage finance segments with subsidiaries in the broking and wealth advisory space. It is emerging as a high growth company in the retail lending space with a branch network of over 220.

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