Arun Alagappan resigns as Chola MD

By: |
January 19, 2021 8:32 AM

Alagappan will be relieved from the services of the Chola effective February 14, 2021, the company said in a stock exchange disclosure.

cholaChola in a statement said the company continues to hold strong liquidity position with Rs 6,228 crore as cash balance as of December 31, 2020, including Rs 1,500 crore invested in GSec.

Arun Alagappan has tendered his resignation as managing director of Cholamandalam Investment and Finance Company (Chola) as he wishes to move ahead to assume larger responsibilities within the Murugappa Group.

Alagappan will be relieved from the services of the Chola effective February 14, 2021, the company said in a stock exchange disclosure.

Alagappan, the then executive director Chola was elevated and appointed as the MD, in 2019 November for a period of five years.

Alagappan started his career with GE Capital Services India and after a two-year stint there, joined the Murugappa Group in 1999.

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