The Cholamandalam DBS split was on the cards for many months, but the formal announcement came last week. Cracks had started appearing in mid-2008 itself. The global economic crisis did not help heal the wounds.As it happened, it was the personal loan portfolio which pushed the company to the brink of disaster in 2008. Cholamandalam DBS ended up with Rs 1,500 crore of delinquent debts. With 2008 turning out to be a bad year, the Murugappa side wanted to shut down the personal loan business. But there was resistance from the DBS side.Full Story
