Cholamandalam MS General Insurance is planning to offer its services on the mobile phone platform
Chennai: Private sector Insurance firm Cholamandalam MS General Insurance, a joint-venture between Murugappa Group and Mitsui Sumitomo Insurance Group of Japan, is planning to offer its services on the mobile phone platform, reports PTI quoting a top company official.
"We will introduce many new initiatives on the mobile platform soon which shall further delight our customers", Cholamandalam MS General Insurance, Managing Director, SS Gopalarathnam said.
He said the company was working over the last couple of years to help customers transact through its website.
Meanwhile, Chola MS said, its online portal -- www.cholainsurance.com -- has taken the top spot in a study undertaken by Yahoo. The website was selected for its 'user-friendly' appeal and economical premium of web policies, it said.
Cholamandalam MS General Insurance offers various products like motor, health and travel insurance. In 2011-12, the company achieved a GWP (gross written premium) of Rs1,346 crore. It has 92 branches and 6,000 agents across the country.
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Sud bought about 1.51 lakh shares of the company taking her stake in SR Industries to 5.39% from 4.19% but did not inform SEBI as mandated
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has settled the case against one Meenakshi Sud after she made a payment of about Rs7.24 lakh for allegedly not making the requisite disclosures regarding her shareholding in SR Industries Ltd.
SEBI said that it is settling the matter against Sud, "without admitting or denying the guilt on the part of the Noticee (Sud) to the finding of fact or conclusion of law ".
The regulator had observed that while trading in the scrip of SR Industries through trading member LSE Securities, Sud purchased nearly 7.52 lakh shares amounting to 5.98% stake of the company and sold 24,726 shares representing 0.19% shareholding.
It was alleged that as on 8 April 2011, Sud had acquired about 1.51 lakh shares of the company due to which her stake in the company increased from 4.19% to 5.39%.
According to the norms, as her shareholding crossed 5%, she was required to make disclosures to the company and to the concerned stock exchange.
SEBI had alleged that Sud did not make the necessary disclosures.
While the adjudication proceedings were in progress, Sud made an application for consent order in June, this year.
Subsequently, she proposed settlement charges of about Rs7.24 lakh under SEBI's consent order mechanism.
A High Powered Advisory Committee (HPAC) considered the consent terms and recommended the case for settlement on payment of the said amount.
The recommendations of HPAC were also approved by the panel of Whole Time Members of SEBI.
The consent order regarding the case was passed on 3 December 2012.