Latest News
Shriram Automall India

Shriram Automall Signs an Agreement with Corporation Bank

Feb 24, 2015   19:15 IST 
Mangalore, Karnataka, India

Shriram Automall India Limited (SAMIL) has marked another tie-up for the year while joining hands with Corporation Bank. As a leading service provider in pre-owned vehicles and equipment, the Company extends its holistic bidding solutions for the disposal of bank’s all types of pre-owned commercial vehicles,  tractors, buses, cars & SUVs, three-wheelers and two-wheelers. In accordance to the pact signed between both the parties, SAMIL will assist the bank in the disposal through its multiple bidding platforms, including physical and online bidding.


“Through an association with Corporation Bank, we are eyeing at strengthening our pre-owned vehicles’ business by adding more inventory for disposal in our regular bidding events, both physical and online. Like all other tie-ups, this one also stands on the ground of transparent and ethical business practices”, stated Mr. Sameer Malhotra (CEO of SAMIL).


SAMIL signed an MOU with Corporation Bank on 24 February, 2015 at the bank’s corporate office in Mangalore. As per the agreement, the Company will also provide parking and refurbishment to the bank. A safe and secured warehousing of assets has been guaranteed along with well-equipped repair facility and complete assistance in certifying the market value of the vehicles. 


Sharing views on the alliance, Mr. Bibhas Kumar Srivastav (Executive Director of Corporation Bank), quoted “At Corporation Bank, we had been looking for fair business practices in the disposal of our pre-owned vehicles segment. Shriram Automall is a perfect match for our requirement that indeed hunts for value-for-money transactions with maximum return”.


SAMIL will be strategically dedicating its unique bidding platforms in order to fetch optimum realisation for the bank. SAMIL provider conducts more than 600 bidding events (physical and online), every month through which it generates a large number of customers and maximum transactions.


In a short span of time, the Company has given a new perspective to the pre-owned space of automobile industry. An alliance with Corporation Bank is aimed at taking this initiative on to a new level that can generate a robust growth within its sales ahead.


About Corporation Bank:

Corporation Bank began its operations about 109 years ago in 1906, with an initial capital of just Rs.5000. Over the years, it has recorded Rs. 3,27,655 Crore mark in business and even far more, with over 9893 service outlets across the nation, served by committed and dedicated 18,000 plus Corp Bankers.


Nationalised in 1980, the Bank was the fore runner when it came to evolving and adapting to the financial sector reforms. In 1997, it became the Second Public Sector Bank in the country to enter capital market, the IPO of which was over-subscribed by 13 times. It has many ‘firsts’ to its credit - Cash Management Services, Gold Banking, m-Commerce, ‘Online’ approvals for Educational loans, 100% CBS Compliance and more recently, its pioneering efforts to take the technology to the rural masses in remotest villages through low-cost branchless banking - Business Correspondent model. All of which symbolise Bank's commitment to its customers to provide convenience banking.


About Shriram Automall India (SAMIL):

Shriram Automall India Limited (SAMIL), one-of-its kind facility, is a wholly owned subsidiary of Shriram Transport Finance Company (STFC). It is India's first-ever service provider that offers various well organised and transparent bidding platforms, including physical, online, one stop classified and negotiated deals, for acquisition & disposal of pre-owned commercial vehicles, construction & industrial equipment, tractors & agricultural equipment, passenger vehicles, three wheelers and two wheelers. The company also provides various allied services, including New Look Refurbishment services, valuation, parking and finance (through STFC). It has successfully launched more than 100 bidding locations, including over 45 well-structured Automalls and nearly 70 strategic parking locations, across India. The company has been awarded ISO 9001:2008 certification for its Quality Management System and rated AA from CRISIL.


For more information, please contact:


709, Best Sky Tower,

F-5, Netaji Subhash Place,

Pitampura, Delhi-110034

Tel: 011-41414444

Fax: 011-42414444



For press background on Shriram Automall India

click here