Shriram Group’s founder Ramamurthy Thiagarajan has donated his assets worth more than Rs 6000 crores.
Shriram Group’s founder Ramamurthy Thiagarajan has donated his property worth more than Rs 6000 crore. Thiagarajan said that except his small house and a car worth $5,000 (Rs 4 lakh), he has given all his other assets to a trust for his employees. Thiagarajan, 86, said, “I have transferred assets worth $750 million (about Rs 6,210 crore) to the Shriram Ownership Trust.” However, he has not disclosed when he donated the assets.
The company was started in this year
R. Thiagarajan is a Brahmin industrialist and the founder of the Chennai-based Shriram Group, a financial services conglomerate along with AVS Raja and T. Jayaraman. He was born on August 25, 1937 in Chennai (erstwhile Madras). The group was founded on 5 April 1974 by R Thiagarajan, AVS Raja and T. Jayaraman in Chennai. The group started with chit fund business and later the group entered into loan and insurance business. Thiagarajan has built his empire by giving loans to low income people who do not get loans from banks.
Lakhs of people got employment from this company
About 1,08,000 people work in this group of Shri Ram Ram. His company is pioneer in providing loans to the poor section of the society for trucks, tractors and other vehicles. Thiagarajan told in an interview that he had opened this company so that people without credit history should not face any problem in borrowing money. The flagship company Shriram Finance Limited has a market value of around $8.5 billion. Its profit in the June quarter was around $ 200 million.
