CIFCL appoints new MD

Chennai, Mar 30 (UNI) Cholamandalam Investment and Finance Company Ltd (CIFCL) has appointed Atul Pande as the company's new Managing Director.

Effective April one, 2006, Mr Pande would assume charge of the company, a joint venture between the Murugappa group and DBS Bank of Singapore.

The company is also set to be renamed as Cholamandalam DBS Finance Limited, subject to receipt of regulatory approvals, a release here said today.

Mr Pande was earlier the Managing Director of Citicorp Maruti Finance Ltd, heading the auto business of Citi Group companies in India.

His appointment followed that of Mr M Anandan, the former MD of CIFCL, as the Managing Director of Cholamandalam MS General Insurance Company Ltd.

Mr Anandan continues to be a Director on the Cholamandalam Board.

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