One of the most respected integrated financial services
Company in India, Sundaram Finance Limited (SFL) was established
in 1954 by T.S. Santhanam, the son of group founder TVS
Iyengar. The company offers hire purchase schemes for Commercial
vehicles, machinery, office equipment and passenger cars - both
new and used. Their other products include Leasing and Deposits
(Deposits aggregating over Rs 7 billion, across 6,64,000 depositors).
Their total disbursement for 1999-2000 stood at Rs 969 crore. SFL
has an 'FAA' rating from CRISIL (Credit Rating Information Services
of India Ltd) as a deposit-taking firm.
With a consistent policy of direct interaction with investors,
SFL has 'customer confidence' as its strongest equity in the market.
Setting benchmarking standards in service excellence and transparency,
SFL is strongest in South India where it has performed with understated
efficiency. Managing Director G K Raman will now be looking
to take SFL into the challenging Insurance sector (which ironically,
was the original intention with which the company was established).
Part of the Hinduja Group, Ashok Leyland Finance Limited (ALF)
was established in 1982 by Ashok Leyland. This asset
financing company has the largest all-India presence among Non-Banking
Finance Institutions (NBFCs).
The company offers finance for Commercial Vehicles, Cars, Multi-Utility
Vehicles, Construction Equipment, Two-Wheelers and White Goods.
Corporate finance is given through Equipment Finance and Bills Discounting.
CRISIL (Credit Rating Information Services of India Ltd)
rates the company's Fixed Deposit schemes at FAA, signifying high
safety. With over 2,00,000 depositors, ALF has deposit base of Rs.
250 crore. Fixed Deposits are for 12, 24 and 36 month periods, with
interest payable on a quarterly or monthly basis.
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