Mumbai/IBNS, Dec. 23 -- Shares of Cholamandalam Investment and Finance Company Ltd on Tuesday rose nearly 6 per cent, recovering losses from the previous session, after the Murugappa Group issued a clarification rejecting allegations made by investigative portal Cobrapost, media reports said.

The stock rebounded after sliding on Monday following the publication of Cobrapost's report.

The report claimed that cash deposits amounting to around Rs 25,000 crore were routed through multiple banks over several years. It also flagged alleged related-party transactions exceeding Rs 10,000 crore across CIFCL, its insurance arm and other group entities, raising questions over disclosures and corporate governance practices.

Cobrapost further sugge...