According to a media report, the Peerless General Finance and Investment Company Limited (PGFI) has signed an agreement to sell its entire shareholding in the Peerless Fund Management Company Limited (PFMCL) and the Peerless Trust Management Company Limited (PTMCL) to Essel Finance Management LLP (EFM). PGFI is the sponsor, PTMCL is the trustee, and PFMCL is the investment manager of Peerless Mutual Fund. The transaction will be completed after getting approval from regulator.