We are excited to announce that Mr. Arun Bagadia and Kogta Financial India Limited have successfully acquired the remaining portfolio of auto loans from GMAC Financial Services India Limited.
This remarkable transaction encompasses a substantial retail auto loan asset value of Rs. 45 crore ($10 million), strategically spread across 14 states throughout the vast expanse of India.
Effective from March 31, 2010, we proudly assume complete responsibility for managing this esteemed portfolio, including loan servicing, collection, issuance of No Objection Certificates (NOCs), and all other associated obligations.