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Religare Finvest to use Shriram Automall to sell NPA assets

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Religare Finvest Ltd will use Shriram Automall India’s bidding platforms to dispose of its non-performing and immovable assets, Shriram Automall said.

“Shriram Automall has over the years proved itself as market leaders and we are confident on better conversion in liquidation of our NPA Properties from our inventory through their effective disposal platforms,” quoted the Chief Risk Officer of Religare Finvest, Pankaj Sharma.

Religare will use Shriram Automall’s different platforms such as physical bidding, online bidding and private treaty to dispose of all types of immovable assets.

Commenting on the tie-up, Shriram Automall CEO, Sameer Malhotra said, “Shriram Automall since its inception has created a unique path for industry to follow, getting associated with leading financial institutions within a span of just 5 years like Religare is a proof that we are indeed on the right path and will continue to create benchmark with our professional services when it comes to disposal of pre-owned assets.”

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