Business Economy

Status of SFL promoter reclassified

The board of directors of Sundaram Finance Ltd. (SFL) on Friday approved a request from Barath Rengarajan, one of the promoters, seeking re-classification of his status in the company from that of promoter to ‘public’, the company said in a regulatory filing. Mr. Rengarajan, who currently holds 0.42% of company’s equity, made a formal request a few days ago.

The board members felt that Mr. Rengarajan request for re-classification was reasonable and justified and decided to approve the same.

Source: thehindu.com

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