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Shriram Automall India

United Bank of India and Shriram Automall Tie up for Disposal of Seized Vehicles & Equipment

Apr 27, 2015   16:23 IST 
Kolkata, West Bengal, India

In a thrust to boost up early realisation of charged assets and recovery in hard accounts United Bank of India has adopted another innovative tool. The Bank has entered into an agreement with Shriram Automall India Limited (SAMIL) for the disposal of all types of vehicles seized in NPA accounts. SAMIL will provide parking, refurbishing, auction & transfer facilities for the seized vehicles. The agreement was signed at Bank's head office in presence of GM Recovery, UBI, Mr. Rathin Dey and Ms. Phalguni Hari Pillai, GM Business Development, SAMIL.

Shriram Automall India Limited (SAMIL), country’s one-stop destination for pre-owned vehicles and equipment, has marked the onset of an alliance with United Bank of India (UBI) with its impressive solutions in the disposal of various types of transport equipments financed by the Bank and subsequently impaired. As a holistic service provider, the Company has undertaken responsibility for the disposal of bank’s seized two wheelers, three wheelers, cars, tractors, tippers, machinery & articulated vehicles, light commercial vehicles (LCVs) and medium & heavy commercial vehicles (M&HCVs).

Sharing views over the tie-up, Mr. Sameer Malhotra (CEO of SAMIL) quoted, “We are gradually heading towards a strong presence within the banking sector. At this initial phase of our tie-up with United Bank of India, we have promised regular physical bidding events across our 50 well-structured Automalls. We aim at serving the bank with our specialised approach in the business of pre-owned vehicles and equipment. We expect a good business from United Bank of India having more than 2000 branches and 35 Regional offices with pan India presence.”

The agreement, which was signed at the Bank’s head office in Kolkata, states that the Company will strategically incorporate UBI’s varied seized vehicles in its physical bidding events that are hosted at its Automalls. Complete transparency is maintained within these events and the presence of numerous bidders makes way for maximum value on the vehicles put on display.

We are looking forward to this association with a strong belief in extracting maximum value for seized vehicles in NPA accounts through the services of SAMIL. Our huge variety of vehicles available for seizure and consequent sale include Trucks, Tractors, Tempos & personal cars and it matches extremely well with the Company’s organised services in the widest portfolio of pre-owned vehicles and equipment”, states Shri Rathin Dey, GM, UBI.

Due to the valuation, documentation, parking and refurbishment services offered by SAMIL, the bank will gain utmost benefit as the service provider will certify the market value of every vehicle and help completely in the decision-making process. Title searching and insurance documentation services will add value to every transaction. Moreover, the 24*7 parking facility will ensure safety of vehicles and refurbishment will increase their market value.

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 150 bidding locations, including 50 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:

SHRIRAM AUTOMALL INDIA LIMITED

709, Best Sky Tower,

F-5, Netaji Subhash Place,

Pitampura, Delhi-110034

Tel: 011-41414444

Fax: 011-42414444

E-Mail: contact@samil.in

Website: www.samil.in


 
 
People from left to right: Mr. Parikshita Panda (AGM of UBI), Mr. Anurag Srivastava (DGM of UBI), Mr. Rathin De (GM of UBI), Ms. Phalguni Hari Pillai (NH-Banking & Financial Institutions of SAMIL) Mr. Rajnish Thakur (ZFH -Business Development of SAMIL), Mr. Shantanu Banarjee (AM of SAMIL), Mr. Deepak Saha (RH of SAMIL) and Joydeb Shaw (ZH of SAMIL)
People from left to right: Mr. Parikshita Panda (AGM of UBI), Mr. Anurag Srivastava (DGM of UBI), Mr. Rathin De (GM of UBI), Ms. Phalguni Hari Pillai (NH-Banking & Financial Institutions of SAMIL) Mr. Rajnish Thakur (ZFH -Business Development of SAMIL), Mr. Shantanu Banarjee (AM of SAMIL), Mr. Deepak Saha (RH of SAMIL) and Joydeb Shaw (ZH of SAMIL)
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