4 finance group

Tata Motors has joined hands with Yes Bank to offer the customers digital retail finance solutions, informs the automaker in a release. It claims the agreement will help the company to offer a superior customer experience through “digital synergies” for commercial vehicle clientele.Tata Motors and Yes Bank will jointly offer finance solutions for the entire range of cargo and passenger carriers, facilitating the easy purchase and ensuring superior operating economics for the end customers, informs the automaker.Commenting on this, Rajesh Kaul, Vice President – Sales & Marketing, Commercial Vehicles Business Unit, Tata Motors, said, “This is a welcome partnership between two agile and tech savvy organizations who use technology as an enabler to add value and leverage our common strengths to meet the ever changing needs of our customers. We are confident of increased reach, and help us serve our customers in an efficient and delightful manner.”Nipun … [Read more...] about Tata Motors partners with Yes Bank for digital finance solutions

The stunning allegations involve Dawn Gentry, a 38-year-old Family Court judge from Kenton County in Kentucky in the US, who was elected to the high-profile position in November 2018. She is now being investigated by the Kentucky Judicial Conduct Commission – the only body that is able to penalise a sitting judge. It has been alleged she let staffers drink at work and drank alcohol herself on the job, had threesomes inside court offices and gave preferential treatment to lawyers who had sex with her. She is also accused of promoting people who donated to her re-election campaign – and punishing those who did not. According to the Cincinnati Enquirer, which broke the story, lawyer Katherine Schulz claimed to have quit after Gentry allegedly flirted with her over social media platform Snapchat and also asked her to seduce the judge’s former husband, so she could accuse him of being unfaithful. The judge also allegedly propositioned the lawyer with a threesome with her … [Read more...] about Family Court judge hit with nine misconduct charges relating to group sex and other offences

Mumbai: Arun Duggal is likely to take over as chairman of the Shriram Group entities after Ajay Piramal stepped down from the position selling his stake in Shriram Transport Finance. Duggal will oversee the proposed three-way merger of Shriram Transport Finance, Shriram City Union and Shriram Capital. A plan to merge two of its publicly traded entities, Shriram Transport Finance Co and Shriram City Union Finance, with the unlisted parent Shriram Capital is underway. This is being done to simplify the corporate structure and facilitate the exit for existing investors such as TPG Capital and Piramal Enterprises. Shriram Capital is the holding company for the financial services and insurance entities of the Shriram Group. The holding company includes Shriram City Union, Shriram Transport Finance, two insurance companies-Shriram Life and Shriram General — a retail broking and financial distribution businesses. “There is talk of getting Arun Duggal back as chairman after Ajay … [Read more...] about Duggal may be chairman of Shriram Group Companies, again

MUMBAI: IDFC and Shriram Group are working on various alternative structures to try and ensure that their proposed merger goes through, Ajay Piramal, chairman, Piramal Enterprises, said in an interview. ET reported on Wednesday that IDFC Ltd and Shriram Capital had decided to work on a new formula to salvage the plan amid shareholder resistance and fears over dilution of holdings. “There are many structures which were being worked upon from day one. We have said that it will depend on what RBI says and it will depend on what the valuations are,” said Piramal, also chairman of Shriram Capital. “So, there are many permutations and combinations which go on.” ET had reported that the merger terms were being redone as shareholders and managements sparred over valuations. Piramal said the merger formula being worked on will make sure that the interest of shareholders is safeguarded. “Shriram will not do anything which is not in the interest of its … [Read more...] about Still looking at IDFC-Shriram Group deal structure: Piramal

Shares of IDFC and Shriram groups ended mixed on Thursday amid speculation of a merger of their entities to create a $10 billion company. There were media speculations earlier in the day that Shriram Transport Finance and Shriram City Union Finance were to be merged with IDFC Bank, while Shriram Capital’s Life and General insurance business will merge with IDFC. Shares of Shriram Transport Finance inched higher by 1.21 per cent to Rs 1,107, while Shriram City Union Finance fell 1.21 per cent to Rs 2,515. On the other hand, IDFC shares rose 0.25 per cent to Rs 60.60 and those of IDFC Bank gained 1.69 per cent to Rs 63.35. IDFC Bank clarified to media that it was unable to confirm or deny the news reports. “We keep evaluation opportunities from time to time and should anything concrete fructify, we will inform the exchanges as appropriate. As this point, there nothing that can be disclosed,” IDFC Bank said in a regulatory filing. … [Read more...] about IDFC, Shriram Group shares mixed on merger buzz