How Vatsal Shah from Sushil Finance built 500 crore AUA #vendor #finance #homes


#sushil finance

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How Vatsal Shah from Sushil Finance built 500 crore AUA

Mumbai based Vatsal Shah joined his father s stock broking business after completing his engineering in 2007. Founded by his father Sushil Shah in 1982, Sushil Finance today has 600 plus franchises across India with 1.40 lakh clients.

While the company s predominant focus has been broking, volatility and the shift in investor behavior prompted Vatsal to foray into mutual funds since 2009. Investors come for the flavour, and fun of trading in markets for a few months and become inactive later. Also, retail investors don t like volatility. We therefore started focusing on mutual funds, which offer a far superior alternative to participate in markets. It is a win-win for our company and investors alike. As investors benefit from long term growth in the market, we get a regular stream of income says Vatsal.

The result Vatsal has built an AUA of Rs. 500 crore in mutual funds across 25,000 clients. His MF business has grown three times in the last two years he says. So how did Vatsal acquire such a large clientele? He used a multi-pronged approach to grow his MF business. At the time he ventured into MFs, Vatsal didn t observe much meaningful differentiation in the services offered by many distributors. We wanted to add value. Thus, we introduced a product called Wealth Winner which recommends the level of exposure clients should have in equity and debt at various points of time based on a combination of fundamental and technical factors. This product was received well by investors.

Other than specialized products, technology has helped Vatsal achieve scale. We evaluated different platforms and found the exchange route to be the best. After using different platforms we found that the volumes were growing faster on the exchange platform, says Vatsal. The exchange platform allows him to execute bulk transactions at one go. Imagine how difficult would it be if we were to inform 100 clients to switch from equity to debt or to make fresh investment. The exchange platform helps us execute transactions faster without the hassle of filling up forms, he adds.

With the help of technology, Vatsal tapped his franchise to grow his MF business. We undertook a massive campaign to train our sub-brokers. We explained the stability of income in mutual funds vis- -vis broking income which is sporadic, says Vatsal. His objective was to activate more and more franchises to sell mutual funds.

Besides his franchise, Vatsal has started organizing financial planning seminars in companies to expand his clientele. We have started organizing seminars in companies where we explain the benefits of mutual funds. The conversion ratio is low but we are hopeful that this strategy will pay off in future.

Vatsal believes that the MF category will gain more popularity as investors, especially those who prefer traditional fixed return products, start looking for better returns. As the FD rates become unattractive, mutual funds will emerge as a big category going forward, believes Vatsal.

As the client base grows, making sure that each client gets the same level of attention and service is important. With a clientele of 25,000, Vatsal says that servicing them is a task. Communication is a challenge sometimes. We send reports on emails every month but some clients don t check their mails regularly, says Vatsal. To make portfolios easily accessible, Vatsal has also started sending portfolio valuation to all his clients through SMS. He is also working on a software which will offer a consolidated view of investors portfolio across all products.

While he has a team of 20 who look after MF clients, he says that some clients prefer meeting him personally to review their portfolios and make fresh investments.

An MBA from Indian School of Business, Hyderabad, Vatsal wants his company to be known for its research capabilities. He follows an algorithmic model for recommending funds to his sub-brokers. Firstly, we look at the risk- adjusted returns of funds. Secondly, we look at the normalized returns and thirdly we compare the point-to-point returns of a fund in the last eight quarters with the returns of Nifty. After filtering the best funds we prepare a list of recommended schemes.

Vatsal is among the growing breed of brokers who see a potential in mutual funds. He aspires to reach Rs. 1,000 crore in equity assets in the next five years. With his large franchise base, technological strength and differentiated services, Vatsal is confident that he will turn his dream into a reality soon.

Not able to understand routing of MF investment through stock exchanges. If you think it is fast and hassle free, then, I think you are wrong. In both the cases, you have to do KYC once when you open an account. After that, the transaction is completed is less than 30 seconds. In case of dealing through stock exchanges, you have to pay brokerage also.
Does it mean that Sushil Finance gets a part of the brokerage (since they are originally stock brokers) and also a commission from MF AMC.
If they are not getting or interested in brokerage, then, why they are not switching to a common aggregators platform like MFU or some such platforms.

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City University of Hong Kong #city #university #of #hong #kong, #academic #ranking #of #world #universities, #2017, #top #500 #universities, #world #university #ranking, #2017


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Since its establishment in 1984, City University of Hong Kong (CityU) has been endeavouring to provide quality education to the Hong Kong community and meet the needs of our knowledge-based society. It has achieved phenomenal growth from a small institution, housed in temporary premises, to a major University with an international reputation for teaching and scholarship, enrolling around 20,000 students in programmes at levels ranging up through postgraduate research. CityU offers professional education that prepares its students for the challenges and exciting opportunities opening up in Hong Kong, the Asia-Pacific region and throughout the world in business, science and engineering, liberal arts and social sciences, energy and environment, creative media and law. With our world-class teachers, well-developed educational programmes and wide-ranging learning experiences, we prepare our students to become well-rounded young professionals with confidence and competence. We advocate a student-centred learning educational philosophy, emphasizing the achievement of learning outcomes as the real measure of student success. CityU links professional education with applied research. Our research enterprise serves many objectives, including nurturing promising new areas; applying research results to support economic and social development; and informing teaching by scholarship that is conducted at the cutting edge of disciplinary, interdisciplinary, and professional fields. We strive to nurture postgraduate research training by broadening students’ academic exposure and through knowledge transfer activities. We have established University Research Institutes, State Key Laboratories, Research Centres, and Applied Strategic Development Centres to foster interdisciplinary research. We also collaborate closely with industry, producing direct benefits for society in Hong Kong and the Chinese mainland. CityU has become an international University with links to many high-quality institutions on the mainland and overseas. The University has embraced the philosophy of a broad student mix. We encourage student and staff interactions to create a multi-cultural environment on campus, to enhance students’ exposure to other cultures, and to stimulate out-of-the-box thinking. Through the exchange of faculty and students with mainland and overseas institutions, we form cultural bridges throughout the world and our students develop global perspectives. CityU offers state-of-the-art learning, teaching and research facilities in a high-technology environment to create an ambiance that encourages intellectual curiosity, social interaction, self expression and mutual support.

Total Enrollment:11358
International Students:1806(16%)
Undergraduate Enrollment:8688
International Students:663(8%)
Graduate Enrollment:2670
International Students:1143(43%)

Undergraduate Programs
Accountancy
Accountancy and Law
Accountancy and Management Information Systems
Administration and Public Management
Applied Biology
Applied Chemistry
Applied Physics
Applied Sociology
Architectural Studies (Full-Time)
Asian Studies
Bachelor of Laws with Honours
Building Engineering (Building Services Engineering)
Building Engineering (Construction Engineering and Management)
Building Engineering (Structural and Geotechnical Engineering)
Business Economics
Business Management
China Business
Chinese
Computer Engineering
Computer Science
Computing Mathematics
Creative Media
Creative Media
Criminology
Cultural and Heritage Management
Digital Media Broadcasting
E-Logistics and Technology Management
Electronic and Communication Engineering
Electronic Commerce
English For Professional Communication
English For The Professions
Environmental Policy Studies
Environmental Science and Management
Finance
Global Business Systems Management
Human Resources Management
Industrial Engineering and Engineering Management
Information Engineering
Information Management
Integrated Strategic Communication
International Business – Japan Studies
International Studies
Language Studies
Linguistics and Language Technology
Management Science
Managerial Statistics
Manufacturing Systems Engineering
Marketing
Marketing Information Management
Materials Engineering
Mechatronic Engineering
Media and Communication
Policy Studies and Administration
Psychology
Quantitative Finance and Risk Management
Service Operations Management
Social Work
Social Work with Minor In Counselling
Surveying (Full-Time/Ugc Funded)
Total Quality Engineering
Translation and Interpretation
Master’s Degree Programs
Master of Arts In Asian and International Studies
Master of Arts In Chinese (Chinese Language and Literature/Chinese For Professional Purposes/Chinese For Educational Purposes)
Master of Arts In Communication and New Media
Master of Arts In English Studies
Master of Arts In Global Business Management
Master of Arts In Housing Studies
Master of Arts In Integrated Marketing Communication
Master of Arts In International Accounting
Master of Arts In Language Studies (Language & Law / Linguistics / Translation & Interpretation / Translation with Language Information Technology)
Master of Arts In Media Cultures
Master of Arts In Public Policy and Management
Master of Arts In Quantitative Analysis For Business
Master of Business Administration
Master of Business Administration (Executive)
Master of Fine Arts In Creative Media
Master of Fine Arts In Creative Writing
Master of Laws
Master of Laws In Arbitration and Dispute Resolution
Master of Science In Advanced Technology and Management
Master of Science In Applied Economics
Master of Science In Applied Mathematics
Master of Science In Business Information Systems
Master of Science In Civil and Architectural Engineering (Building Services Cost Management)
Master of Science In Civil and Architectural Engineering (Civil Engineering)
Master of Science In Computer Science
Master of Science In Electronic and Information Engineering
Master of Science In Electronic Business and Knowledge Management
Master of Science In Electronic Commerce
Master of Science In Energy and Environment
Master of Science In Engineering Management
Master of Science In Environmental Science and Technology
Master of Science In Finance
Master of Science In Financial Engineering
Master of Science In Financial Services
Master of Science In Information Systems Management
Master of Science In Marketing
Master of Science In Materials Engineering and Nanotechnology
Master of Science In Mathematics For Finance and Actuarial Science
Master of Science In Multimedia Information Technology
Master of Science In Operations and Supply Chain Management (Starting From 2012 Intake)
Master of Science In Organizational and Change Management
Master of Science In Professional Accounting and Corporate Governance
Master of Social Sciences In Applied Psychology
Master of Social Sciences In Applied Sociology
Master of Social Sciences In Counselling
Master of Social Sciences In Development Studies
Master of Social Sciences In Psychology of Education
Master of Social Sciences In Social Work
Msc In Construction Management (Construction Project Management)

Performance in Academic Ranking of World Universities


Stryker – Medical Devices & Equipment Manufacturing Company: Stryker #medical #device #manufacturing #company, #medical #equipment #manufacturing #unit, #medical #fortune #500 #organization, #best #medical #company #to #work


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We are a company that cares!

People magazine recognizes us for our success in business while also demonstrating respect, compassion and concern for our employees and communities. Read more


  • TOGETHER WE ARE TRANSFORMING ORTHOPAEDICS

    Hospitals across the world are transforming joint replacement with Mako TM Robotic-Arm Assisted Technology, helping patients get back to the things they love. Learn about Mako Technology


  • PATIENTS FIRST

    Introducing the 1588 AIM Platform, designed to safeguard critical anatomy and allow surgeons to see and do more. Watch the Video


  • We are a company that cares!

    People magazine recognizes us for our success in business while also demonstrating respect, compassion and concern for our employees and communities.
    Read more


  • FRED AND HAL STAY ON TOUR!

    Champions Tour Professionals Fred Funk and Hal Sutton both suffered from painful joints which nearly ended their golf careers.
    Read Fred’s Story
    Read Hal’s Story


  • HELPING PATIENTS GET BACK TO LIVING.

    From long distance runners to everyday individuals, SPA patients are experiencing the benefits of Single Portal Arthroscopy(SPA). Hear their stories

    What’s New at Stryker $55.94 USD NYSE: SYK

    Innovations Designed to Increase OR Efficiency and Construct Strength – Stryker’s Spine division announced that its Serrato™ Pedicle Screw, intended for use in the non-cervical spine as part of the company’s successful Xia® 3 Spinal System, has re.

    Intermountain Healthcare has announced their 2017 Supplier Award winners. Intermountain honors suppliers for working in innovation, cost and quality outcomes, corporate social responsibility and supply chain excellence. Stryker was recognized for.

    Kevin Lobo, Stryker Chairman and CEO, talks about the company’s mission to provide high-tech, innovative devices for treating patients, including robotic-arm assistance in the operating room.

    MultiGen 2 RF Generator makes radiofrequency ablation more efficient and reliable – Stryker announced that it has received FDA 510(k) clearance for its MultiGen 2 RF Generator. This product provides physicians with the efficiency, control and reli.

    Spotlight

    By 2012, the pain after horseback riding “progressed to a level that was unbearable.” Sam struggled with limitations due to the pain, which affected all aspects of her daily life. “I couldn’t sleep and I wasn’t able to get out of a chair.” After a series of misdiagnoses, Sam turned to Dr. Richard C. Mather III, an orthopaedic surgeon associated with Duke University Hospital. Please visit the 2016 Annual Review interactive website to learn about Dr. Mather’s diagnosis, the innovative Sports Medicine products.

    Awards & Sponsorships


  • Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore – The Economic Times on Mobile #finance #news #today


    #ashok leyland finance

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    Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore

    The initial public offer comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

    NEW DELHI: Hinduja Leyland Finance. an arm of Ashok Leyland. has filed draft papers with capital markets regulator Sebi to raise at least Rs 500 crore through the initial share sale.

    The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

    The company is considering a pre-offer placement of up to 2.6 crore equity shares for an amount not exceeding Rs 200 crore.

    “Hinduja Leyland Finance. a subsidiary company of Ashok Leyland has filed today the Draft Red Herring Prospectus (DRHP) with Sebi for the proposed initial public offering of equity shares,” Ashok Leyland in a regulatory filing to stock exchanges.

    It has appointed Axis Capital, ICICI Securities, SBI Capital Markets and Yes Securities as the merchant bankers for the public issue.

    Hinduja Leyland Finance, a non-banking finance company (NBFC), provides customised finance to utility vehicles, tractors, cars, two wheeler and other commercial vehicles, focusing on the semi-urban and rural sector.

    Hinduja Leyland finance, part of Hinduja Group which has global presence in automobiles, energy, IT/ITES, banking and finance, media, entertainment and infrastructure.


    Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore – The Economic Times on Mobile #finance #report


    #ashok leyland finance

    #

    Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore

    The initial public offer comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

    NEW DELHI: Hinduja Leyland Finance. an arm of Ashok Leyland. has filed draft papers with capital markets regulator Sebi to raise at least Rs 500 crore through the initial share sale.

    The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

    The company is considering a pre-offer placement of up to 2.6 crore equity shares for an amount not exceeding Rs 200 crore.

    “Hinduja Leyland Finance. a subsidiary company of Ashok Leyland has filed today the Draft Red Herring Prospectus (DRHP) with Sebi for the proposed initial public offering of equity shares,” Ashok Leyland in a regulatory filing to stock exchanges.

    It has appointed Axis Capital, ICICI Securities, SBI Capital Markets and Yes Securities as the merchant bankers for the public issue.

    Hinduja Leyland Finance, a non-banking finance company (NBFC), provides customised finance to utility vehicles, tractors, cars, two wheeler and other commercial vehicles, focusing on the semi-urban and rural sector.

    Hinduja Leyland finance, part of Hinduja Group which has global presence in automobiles, energy, IT/ITES, banking and finance, media, entertainment and infrastructure.


    Top 10 Cement Companies in India #top #10 #cement #companies #in #india, #cement #companies #in #india, #cement #company #in #india, #cement #industry #in #india, #indian #cement #industry,top #cement #company #list, #list #of #top #10 #cement #companies #in #india, #et #500 #rank #of #top #cement #company


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    Top Cement Companies in India

    The Indian cement industry is the second largest in the world after China, employing in excess of a million people throughout the country. The cement industry contributes a big deal to the Indian economy, more so because the construction industry in India relies heavily on the cement industry for natural reasons. Indian as well as foreign companies have invested billions in the Indian cement industry after regulations were lifted off in 1982. The cement industry in India is currently undergoing a turnaround phase striving hard to come at par with its global competitors in terms of safety, production and energy efficiency.

    During the next four to five years, the Indian cement market is projected to witness a Compound Annual Growth Rate (CAGR) of around 8.96 percent. Approximately 67 percent of the cement consumption can be attributed to the housing sector in India, 13 percent to the infrastructure sector, 11 percent to the commercial construction and the rest to the industrial construction segment. The next two years might see the cement industry add on 5.6 crore tonnes to its capacity due to a steep rise in the demand. The overall cement capacity in India is expected to reach 39.5 crore tonnes by the next year and 42.1 crore tonnes by the end of 2017 from the present 36.6 crore tonnes.

    A staggering 97 percent of the total cement production in India comes from the 188 large plants set up across the country, while 365 small cement plants are responsible for the remaining three percent. Just the three states of Tamil Nadu, Andhra Pradesh and Rajasthan are home to 77 of the 188 large plants. Some of the world’s top cement companies are based in India. Seventy percent of all the cement produced in India belongs to the top 20 companies operating in the industry.

    List of Top Cement Companies in India

    The top cement companies in India in terms of market capitalisation are as follows:-

    UltraTech Cement

    The biggest player in the Indian cement industry is UltraTech Cement, a product of the Indian multinational conglomerate – the Aditya Birla Group that was founded in 1857. The group started its cement business in 1983 and named the brand UltraTech Cement. This company is based in India’s financial capital Mumbai. As much as 6.4 crore tonnes of grey cement is churned out by UltraTech Cement every year. The company is also the largest cement exporter in India. On 10 July 2015, the market capitalisation of UltraTech Cement was valued at Rs. 85,363.84 crore.

    Current market scenario of Ultratech Cement


    Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore – The Economic Times on Mobile #reliance #home #finance


    #ashok leyland finance

    #

    Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore

    The initial public offer comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

    NEW DELHI: Hinduja Leyland Finance. an arm of Ashok Leyland. has filed draft papers with capital markets regulator Sebi to raise at least Rs 500 crore through the initial share sale.

    The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

    The company is considering a pre-offer placement of up to 2.6 crore equity shares for an amount not exceeding Rs 200 crore.

    “Hinduja Leyland Finance. a subsidiary company of Ashok Leyland has filed today the Draft Red Herring Prospectus (DRHP) with Sebi for the proposed initial public offering of equity shares,” Ashok Leyland in a regulatory filing to stock exchanges.

    It has appointed Axis Capital, ICICI Securities, SBI Capital Markets and Yes Securities as the merchant bankers for the public issue.

    Hinduja Leyland Finance, a non-banking finance company (NBFC), provides customised finance to utility vehicles, tractors, cars, two wheeler and other commercial vehicles, focusing on the semi-urban and rural sector.

    Hinduja Leyland finance, part of Hinduja Group which has global presence in automobiles, energy, IT/ITES, banking and finance, media, entertainment and infrastructure.


    Commission settles with Marac Finance following $500, 000 payout #finance #deals


    #marac finance

    #

    Media Releases

    Commission settles with Marac Finance following $500,000 payout

    25 February 2013

    The Commerce Commission has settled with Marac Finance Limited following the finance company’s decision to refund 1,000 customers a total of about $567,000.

    The refunds are to borrowers who paid their loans back early between 2006 and 2010 but were not refunded premiums for their loan repayment insurance.

    The Credit Contracts and Consumer Finance Act (CCCF Act ) requires that an appropriate portion of a premium is refunded to a customer when they repay their loan early. This reduces the final balance payable on the loan.

    The Commission’s General Manager Competition Kate Morrison said, “The Commission’s view was that Marac was in breach of the CCCF Act and the Fair Trading Act. We saw a settlement as a timely and cost effective way of achieving the right result.”

    “We are pleased that Marac has agreed to do the right thing by its customers and make these payments.”

    The insurance premiums charged by Marac were paid at the start of each loan, on the basis that the loans would run for their full term. When Marac advised borrowers of the final balance to prepay the loan, Marac did not include the rebate on the insurance premium.

    The Commission believed that as Marac arranged the insurance, and was therefore required to make the refunds, it breached the CCCF Act by not refunding as required. The Commission also believed that Marac was likely to have misled customers by telling them that insurance would be rebated, thereby potentially breaching the Fair Trading Act.

    Marac was of the view that it did not arrange the insurance and was not in breach of the Fair Trading Act or CCCF Act. However, it agreed to make the refunds because its contracts said that it would refund insurance premiums when contracts were prepaid.

    When the matter was brought to its attention in late 2010, Marac Finance immediately changed its practices to ensure that it rebates insurance premiums when a loan is prepaid. Since then, it has been working to identify and refund the affected borrowers.

    Ms Morrison said it was particularly important when companies advise customers of a final balance that this balance is properly calculated.

    “Borrowers rely on the information provided to them by lenders, and often have no way of ensuring that the balance owing is correct,” Ms Morrison said. “Borrowers should be aware that if a loan is being repaid early, insurance may be rebated, and they can ask the lender if there are any rebates due to them.”

    A copy of the settlement with Marac Finance can be viewed on our CCCF Act Enforcement Actions Register

    The Commission has a number of fact sheets available on the CCCF Act

    Background

    Marac Finance Limited is a finance company providing vehicle finance to consumers and businesses through a dealer network. It is a subsidiary of Heartland Bank Limited.

    Case study

    Ms V purchased a car in March 2007. She entered into a two year financing contract with Marac, which included payment protection insurance with a premium of $1,270. Ms V repaid her loan in October 2007, 17 months early. The final balance advised to Ms V should have included a rebate of $649 for the insurance. As a result of the investigation, Ms V has since received a refund of $649.

    The Credit Contracts and Consumer Finance Act 2003 regulates consumer lending, consumer leases and buy-back transactions, requiring the disclosure of certain information to consumers entering into consumer credit contracts and providing rules that relate to interest, payments and credit fees. You can find more information on the Credit Contracts and Consumer Finance Act page

    Under the Fair Trading Act 1986 it is an offence to make a false or misleading representation. You can find more information on the Fair Trading Act page


    Commission settles with Marac Finance following $500, 000 payout #car #loan #finance


    #marac finance

    #

    Media Releases

    Commission settles with Marac Finance following $500,000 payout

    25 February 2013

    The Commerce Commission has settled with Marac Finance Limited following the finance company’s decision to refund 1,000 customers a total of about $567,000.

    The refunds are to borrowers who paid their loans back early between 2006 and 2010 but were not refunded premiums for their loan repayment insurance.

    The Credit Contracts and Consumer Finance Act (CCCF Act ) requires that an appropriate portion of a premium is refunded to a customer when they repay their loan early. This reduces the final balance payable on the loan.

    The Commission’s General Manager Competition Kate Morrison said, “The Commission’s view was that Marac was in breach of the CCCF Act and the Fair Trading Act. We saw a settlement as a timely and cost effective way of achieving the right result.”

    “We are pleased that Marac has agreed to do the right thing by its customers and make these payments.”

    The insurance premiums charged by Marac were paid at the start of each loan, on the basis that the loans would run for their full term. When Marac advised borrowers of the final balance to prepay the loan, Marac did not include the rebate on the insurance premium.

    The Commission believed that as Marac arranged the insurance, and was therefore required to make the refunds, it breached the CCCF Act by not refunding as required. The Commission also believed that Marac was likely to have misled customers by telling them that insurance would be rebated, thereby potentially breaching the Fair Trading Act.

    Marac was of the view that it did not arrange the insurance and was not in breach of the Fair Trading Act or CCCF Act. However, it agreed to make the refunds because its contracts said that it would refund insurance premiums when contracts were prepaid.

    When the matter was brought to its attention in late 2010, Marac Finance immediately changed its practices to ensure that it rebates insurance premiums when a loan is prepaid. Since then, it has been working to identify and refund the affected borrowers.

    Ms Morrison said it was particularly important when companies advise customers of a final balance that this balance is properly calculated.

    “Borrowers rely on the information provided to them by lenders, and often have no way of ensuring that the balance owing is correct,” Ms Morrison said. “Borrowers should be aware that if a loan is being repaid early, insurance may be rebated, and they can ask the lender if there are any rebates due to them.”

    A copy of the settlement with Marac Finance can be viewed on our CCCF Act Enforcement Actions Register

    The Commission has a number of fact sheets available on the CCCF Act

    Background

    Marac Finance Limited is a finance company providing vehicle finance to consumers and businesses through a dealer network. It is a subsidiary of Heartland Bank Limited.

    Case study

    Ms V purchased a car in March 2007. She entered into a two year financing contract with Marac, which included payment protection insurance with a premium of $1,270. Ms V repaid her loan in October 2007, 17 months early. The final balance advised to Ms V should have included a rebate of $649 for the insurance. As a result of the investigation, Ms V has since received a refund of $649.

    The Credit Contracts and Consumer Finance Act 2003 regulates consumer lending, consumer leases and buy-back transactions, requiring the disclosure of certain information to consumers entering into consumer credit contracts and providing rules that relate to interest, payments and credit fees. You can find more information on the Credit Contracts and Consumer Finance Act page

    Under the Fair Trading Act 1986 it is an offence to make a false or misleading representation. You can find more information on the Fair Trading Act page


    Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore – The Economic Times on Mobile #mem #consumer #finance


    #ashok leyland finance

    #

    Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore

    The initial public offer comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

    NEW DELHI: Hinduja Leyland Finance. an arm of Ashok Leyland. has filed draft papers with capital markets regulator Sebi to raise at least Rs 500 crore through the initial share sale.

    The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

    The company is considering a pre-offer placement of up to 2.6 crore equity shares for an amount not exceeding Rs 200 crore.

    “Hinduja Leyland Finance. a subsidiary company of Ashok Leyland has filed today the Draft Red Herring Prospectus (DRHP) with Sebi for the proposed initial public offering of equity shares,” Ashok Leyland in a regulatory filing to stock exchanges.

    It has appointed Axis Capital, ICICI Securities, SBI Capital Markets and Yes Securities as the merchant bankers for the public issue.

    Hinduja Leyland Finance, a non-banking finance company (NBFC), provides customised finance to utility vehicles, tractors, cars, two wheeler and other commercial vehicles, focusing on the semi-urban and rural sector.

    Hinduja Leyland finance, part of Hinduja Group which has global presence in automobiles, energy, IT/ITES, banking and finance, media, entertainment and infrastructure.