Mahindra & Mahindra Ltd has rolled back plans to infuse fresh funding into SsangYong Motor Company (SYMC). In February, M&M had announced a fund infusion of 450-500 billion Korean Won (Rs. 2,700-3,000 crore) to bring its South Korean subsidiary SsangYong Motor Company back to profitability by 2022. SsangYong had posted its highest ever yearly loss in 2019. M&M Board of Directors held a special meeting on Friday to review investment in SYMC and at the same time to discuss the approach to capital allocation in light of the COVID 19 impact. “After lengthy deliberation given the current and projected cash flows, the M&M Board took a decision that M&M will not be able to inject any fresh equity into SYMC and has urged SYMC to find alternate sources of funding,”M&M said in a press statement.