Cholamandalam Investment and Finance Company Limited has strongly denied media reports suggesting that Executive Chairman Vellayan Subbiah is set to exit the company as part of a Murugappa family settlement. The clarification comes after a news article published by Moneycontrol on February 26, 2026, claimed that Vellayan Subbiah would step down from Cholamandalam Investment and Finance Company.
In an official communication to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company attached a statement received from the office of Vellayan Subbiah addressing the report. The statement described the speculation as “factually incorrect and entirely baseless,” and categorically denied any such development.
The clarification further stated that Vellayan Subbiah continues to serve as the Executive Chairman of Cholamandalam Investment and Finance Company Limited in accordance with his duly approved appointment for a five-year term from April 1, 2025 to March 31, 2030. The company made it clear that there has been no change in his position or role within the organisation.
Additionally, the statement confirmed that there is no change in the management control structure or ownership of the Murugappa Group’s businesses. The current management structure, which has been in place for several years, remains unchanged. Under this structure, Vellayan Subbiah and M A M Arunachalam oversee key group entities, including Tube Investments of India, Cholamandalam Investment and Finance Company Limited and CG Power and Industrial Solutions, along with their respective subsidiaries.