Sundaram Finance Ltd has informed BSE that, "today, the Board of Directors of our Company have granted an ''in-principle'' approval] for the proposed de-merger of the fund accounting business of Sundaram Fund Services Limited, wholly ownedsubsidiary, into Sundaram Asset Management Company Limited, another wholly owned subsidiary of our Company, pursuant to a proposed Scheme of Arrangement to be formulated in accordance with the provisions of Sections 230 to 232 of the Companies Act, 2013."