Sundaram Asset Management Company Ltd, the 100 per cent subsidiary of Sundaram Finance Ltd on Friday said it received the regulatory approval for the purchase of asset management businesses of Principal Asset Management Pvt Ltd. Sundaram Asset Management Company would acquire the schemes managed by Principal India and acquire 100 per cent of the share capital of Principal Asset Management Pvt Ltd, a company statement said here. "Leadership from both companies are pleased to report the receipt of final regulatory approvals for the purchase from the Competition Commission of India and from Securities and Exchange Board of India ( SEBI )," it said.