Asit C. Mehta Investment Interrmediates Ltd., or ACMIIL, has ceased to be a subsidiary Asit C. Mehta Financial Services Ltd.

Asit C. Mehta Financial Services' stake in ACMIIL fell to 49.17% from 50.05% after the issue and allotment of 200,000 equity shares in ACMIIL to Deena Mehta, according to an Oct. 5 release.

In addition, Pundarik Sanyal resigned as director of ACMIIL, which resulted in Asit C. Mehta Financial Services losing control of the board of ACMIIL.

The change took effect Oct. 4.