Shriram Automall India (SAMIL) has marked another tie-up for the year while joining hands with Corporation Bank. As a leading service provider in pre-owned vehicles and equipment, the company extends its holistic bidding solutions for the disposal of bank's all types of pre-owned commercial vehicles,  tractors, buses, cars & SUVs, three-wheelers and two-wheelers. In accordance to the pact signed between both the parties, SAMIL will assist the bank in the disposal through its multiple bidding platforms, including physical and online bidding.

''Through an association with Corporation Bank, we are eyeing at strengthening our pre-owned vehicles' business by adding more inventory for disposal in our regular bidding events, both physical and online. Like all other tie-ups, this one also stands on the ground of transparent and ethical business practices'', stated Sameer Malhotra (CEO of SAMIL).

SAMIL signed an MOU with Corporation Bank on Feb. 24, 2015 at the bank's corporate office in Mangalore. As per the agreement, the company will also provide parking and refurbishment to the bank. A safe and secured warehousing of assets has been guaranteed along with well-equipped repair facility and complete assistance in certifying the market value of the vehicles. 

Sharing views on the alliance, Bibhas Kumar Srivastav (executive director of Corporation Bank), quoted ''At Corporation Bank, we had been looking for fair business practices in the disposal of our pre-owned vehicles segment. Shriram Automall is a perfect match for our requirement that indeed hunts for value-for-money transactions with maximum return.''

SAMIL will be strategically dedicating its unique bidding platforms in order to fetch optimum realisation for the bank. SAMIL provider conducts more than 600 bidding events (physical and online), every month through which it generates a large number of customers and maximum transactions.

In a short span of time, the company has given a new perspective to the pre-owned space of automobile industry. An alliance with Corporation Bank is aimed at taking this initiative on to a new level that can generate a robust growth within its sales ahead.

Shares of the bank declined Rs 0.35, or 0.56%, to trade at Rs 62. The total volume of shares traded was 5,671 at the BSE (9.30 a.m., Thursday).