CORRECTED: Murugappa Group withdraws FIPB proposal for sale of TI’s Cholamandalam stake to Sumitomo

The government of India today said that Tube Investments, a part of the Murugappa Group, withdrew its proposal seeking approval for the sale of the 14% equity it held in Cholamandalam MS General Insurance Co to Japan’s Mitsui Sumitomo Insurance Co Ltd. CORRECTION UDPATE: Murugappa Group has clarified that it has withdrawn the application after […]