Sundaram Finance to merge IT subsidiary

: The board of Non Banking Finance Company Sundaram Finance has decided to merge its Information Technology subsidiary Sundaram Infotech Solutions Ltd subject to necessary approvals.
"The Board of Directors at its meeting have decided to merge Sundaram Infotech Solutions with our company and approved the draft scheme of amalgamation", the Chennai-based company said in a BSE filing.
"The subject is to all necessary approvals", it said.
In another notification, the company said Rajiv C Lochan was appointed as its Independent Director.
The company website said Sundaram Infotech provides enterprise resource management solution to mid-sized and large companies through Microsoft Dynamics (AX, NAV, CRM, and LS Retail).

The company said it is Microsoft Gold Certified partner operating in India, Middle East and Australia.