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Sundaram Finance cancels proposed merger of 2 units

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Sundaram Finance cancels proposed merger of 2 units

Sundaram Finance Ltd. said Jan. 19 that it would not proceed with the proposed merger of Sundaram Insurance Broking Services Ltd. and LGF Services Ltd.

The move follows a Jan. 18 resolution by the bank's board to rescind an earlier decision to merge the two wholly owned units of Sundaram Finance.