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Hinduja Leyland Finance to commence operations

CHENNAI: Hinduja Leyland Finance Limited (HLF), promoted by Hinduja Group flagship Ashok Leyland, has received the certificate of registration from the Reserve Bank of India, clearing the deck for commencement of operations covering financing of commercial vehicles and allied vehicle financing.

Network

HLF is already in readiness to commence operations in 130 centres covering 16 States. Through rapid branch expansion, HLF plans to have a presence in all States in one year and has targeted a network strength of 300 in three years.

“We hope to replicate the success of Ashok Leyland Finance, drawing from its proven strengths and the immense goodwill among all stakeholders”, said S. Nagarajan, Director-in-Charge.

Associated with Ashok Leyland Finance since inception in 1987, Mr. Nagarajan is credited with building the company to its premier stature among NBFCs before joining IndusInd Bank as Joint Managing Director, following the merger of Ashok Leyland Finance with IndusInd Bank.

The initial capital of Rs. 100 crore will be contributed by Ashok Leyland, Ashley Holdings Ltd and Ashley Investments Ltd.

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