|The company was originally promoted by the Shriram Group of hire Purchase companies in the year 1986 under the name of Shriram Hire Purchase Finance Limited. In March 1990 City Union Bank Limited acquired shareholding to the extent of Rs. 20 lacs (200,000 shares at par) after obtaining the necessary approvals from the Reserve Bank of India. Consequently the name of the company was changed to Shriram City Union Finance Limited. At preseent City Union Bank holds Rs. 40 lacs by way of equity representing 10 % of the present paid up capital of the company. Subsequently in January 1991 and in October 1992 Integrated
Advisory Services Ltd. and Integrated Enterprises (India) Ltd, acquire holdings in the company aggregating to Rs. 75 lacs and Rs. 20 lacs respectively. The total holding of the Integrated Group as on dated stands at Rs. 230 lacs which is equivalent to 57.50% of the present paid up capital of the company. Presently even though Shriram City Union Finaance Ltd is a subsidary of the Integrated Group the day to day management still remains with the Shriram Group. After the public issue the shareholding of the Integrated Group will be 38.33% and that of City Union Bank at 6.67% and that of M/s Shriram Investments Ltd. at 6.67%.
The Company is at present engaged in Hire Purchase and Lease Financing of heavy and medium Commercial Vehicles, and proposes to expand further predominantly into this segment of financing with the augmentation of its resources and other related financial services in the coming years as envisaged in the expansion programme of the company. The Company commenced its operation in the year 1986 with a share capital of Rs. 27.00 lacs. It has gradually increased its activity levels and the paid up capital of the Company as of now stands at Rs. 400 lacs. The total funds employed by the Company as on 31st March, 1994 is around Rs. 3693.00 Lacs.
-The company has allotted, 196,00,000 Equity shares of Rs 10/- each for cash at Rs 15.35 per share (including a premium of Rs 5.35 per share) to Shriram Chits & Investments Private Ltd on preferential basis.'
- Shriram City Union Finance Ltd has appointed Sri. Arun Duggal as Additional Director of the Company at the Board Meeting held on May 25, 2007. He has also been appointed as the Chairman of the Company.
-Shriram City Union Finance Limited has informed that 'i) Sri V Parathasarathi, ii)Sri Mukund Govind Diwan, iii) Sri Vipen Kapur have been inducted as Additional Directors of the Company at the Board Meeting held on 15th June, 2007'.
- Shriram City Union Finance Ltd has appointed Sri. G. S. Sundararajan as an Additional Director of the Company w.e.f. December 31, 2009 by a resolution passed by circulation.