The National Consumer Disputes Redressal Commission, presided by Justice Ram Surat Maurya (presiding member) and Bharatkumar Pandya(member), dismissed a review petition against Cholamandalam Insurance Company and held that it is the fundamental duty of the insured to prove that the insurance claim is payable under the insurance policy. Contentions of the Complainant The complainant, a private garment manufacturing and exporting company registered under the Indian Companies Act,…
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Category: Cholamandalam MS
Chola MS posts ₹100 cr profit in Q3, to sustain higher than the industry growth
Cholamandalam MS General Insurance Company Ltd, a 60:40 joint venture between Murugappa Group and Japan’s Mitsui Sumitomo Insurance Group (Japan), has posted a net profit of ₹100 crore for the quarter ended December 31, 2023, compared with ₹43 crore in the year-ago period, amid the impact of catastrophic events in incurred claims.The profit before tax zoomed to ₹134 crore from ₹58 crore. The company’s gross written premium (including reinsurance inward) grew to ₹1,875 crore in…
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Cholamandalam MS General Insurance targets Rs 7,700 crore premium
Chennai, Feb 7 (IANS) Murugappa group’s multi-line insurer Cholamandalam (NS:) MS General Insurance Company Ltd targets to close this fiscal with a gross premium of about Rs 7,700 crore, a top company official said on Wednesday. The company will raise Rs 100 crore as tier 2 capital in the immediate future, Managing Director V. Suryanarayanan told reporters here.He also said the company will be expanding other lines of business so that the premium from the motor insurance is brought down…
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Cholamandalam Financial Holdings posts consolidated Q3 PAT at Rs 1,027 cr
The consolidated profit after tax for the nine month period ended December 31, 2023 grew to Rs 2,706.81 crore, from Rs 1,908.85 crore registered in the same period of last year.
Cholamandalam Financial Holdings Ltd has recorded a consolidated profit after tax of Rs 1,027 crore for the October-December 2023 quarter, the company said on Tuesday.
The city-headquartered company, part of the diversified conglomerate Murugappa Group, had registered a consolidated profit after tax at Rs 720.16…
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Cholamandalam Financial Holdings posts consolidated Q3 PAT at Rs 1,027 cr
Cholamandalam Financial Holdings Ltd has recorded a consolidated profit after tax of Rs 1,027 crore for the October-December 2023 quarter, the company said on Tuesday. The city-headquartered company, part of the diversified conglomerate Murugappa Group, had registered a consolidated profit after tax at Rs 720.16 crore, during the corresponding quarter of last year.Total income for the quarter under review grew to Rs 6,842.03 crore, from Rs 4,776.75 crore registered year ago. Click here to…
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Cholamandalam Financial Holdings Q3 net rises 43% to ₹1,027 cr.
Cholamandalam Financial Holdings Ltd., reported consolidated Q3 net profit rose 43% to ₹1,027 crore.Total income grew 43% to ₹6,842 crore, the core investment company of the Murugappa group said in a statement.Cholamandalam Investment & Finance Co. Ltd., disbursed ₹22,383 crore against ₹17,559 crore and net profit grew 28% to ₹876 crore. Assets under management grew by 36% to ₹1,41,143 crore.Cholamandalam MS General Insurance Co. Ltd., registered a Gross Written Premium (GWP) of…
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Cholamandalam Financial Holdings consolidated net profit rises 40.67% in the December 2023 quarter
Sales rise 43.81% to Rs 6794.67 croreNet profit of Cholamandalam Financial Holdings rose 40.67% to Rs 467.13 crore in the quarter ended December 2023 as against Rs 332.08 crore during the previous quarter ended December 2022. Sales rose 43.81% to Rs 6794.67 crore in the quarter ended December 2023 as against Rs 4724.70 crore during the previous quarter ended December 2022. ParticularsQuarter EndedDec. 2023Dec. 2022% Var.Sales6794.674724.70 44 OPM %56.1753.18 -PBDT1418.661013.69 40…
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Cholamandalam MS General Insurance Company standalone net profit rises 130.49% in the December 2023 quarter
Sales rise 29.95% to Rs 1345.61 croreNet profit of Cholamandalam MS General Insurance Company rose 130.49% to Rs 99.87 crore in the quarter ended December 2023 as against Rs 43.33 crore during the previous quarter ended December 2022. Sales rose 29.95% to Rs 1345.61 crore in the quarter ended December 2023 as against Rs 1035.50 crore during the previous quarter ended December 2022. ParticularsQuarter EndedDec. 2023Dec. 2022% Var.Sales1345.611035.50 30 OPM %9.92-5.59 -PBDT133.6157.65 132…
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Two Arrested For Online Cheating And Forgery In Hyderabad
Hyderabad: The Hyderabad Cyber Crime Police arrested two persons who were involved in online cheating and forgery in the name of insurance. The arrested persons were Bellary Pavan Kumar (27) of Chennai, Tamil Nadu, and Soudri Basavaraj (27) of Kurnool, Andhra Pradesh. The accused had collected money from customers using the name of Cholamandalam MS General Insurance Company Ltd and committed fraud of about Rs 1,88,599.
The police had received a complaint that the cyber fraudsters contacted…
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Source: https://indtoday.com/two-arrested-for-online-cheating-and-forgery-in-hyderabad/
Police arrest two for online cheating, forgery
Hyderabad: The Hyderabad Cyber Crime Police arrested two persons who were involved in online cheating and forgery on the name of insurance.The arrested persons were Bellary Pavan Kumar (27) of Chennai, Tamil Nadu and Soudri Basavaraj (27) of Kurnool, Andhra Pradesh. The accused had collected money from customers using the name of Cholamandalam MS General Insurance Company Ltd and committed fraud about Rs 1,88,599. The police had received a complaint that the cyber fraudsters contacted…
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