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SUNDARAM FINANCE LTD. Sundaram Finance was established in 1954 when Sri T. S. Santhanam, the founder, envisioned the future of hire-purchase finance in India. The company was started with a paid-up capital of INR 2 lakhs and promoted by Madras Motor & General Insurance Company which was then one of the leading insurance companies in India prior to nationalisation in 1971. Started with the primary objective of financing the purchase of commercial vehicles, the company has today grown into one of the most trusted financial services groups in India. It has a nation-wide presence of nearly 640 branches, over two lakh depositors and three lakh commercial vehicle and car finance customers. Today, Sundaram Finance Limited has a diversified presence in mutual funds, housing finance, general insurance, IT, business process outsourcing and retail distribution of a wide array of financial services and products. The blue colour emblem of Sundaram Finance is a monogram cr

GENERAL INSURANCE CORPORATION OF INDIA The entire general insurance business in India was nationalised by the General Insurance Business (Nationalisation) Act, 1972 (GIBNA). The Government of India (GOI), through Nationalisation took over the shares of 55 Indian insurance companies and the undertakings of 52 insurers carrying on general insurance business. General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of GIBNA. It was incorporated on November 22, 1972 under the Companies Act, 1956 as a private company limited by shares. GIC was formed for the purpose of superintending, controlling and carrying on the business of general insurance. As soon as GIC was formed, GOI transferred all the shares it held of the general insurance companies to GIC. Simultaneously, the nationalised undertakings were transferred to Indian insurance companies. After a process of mergers among Indian insurance companies, four companies were left as fully ow