Mahindra and Mahindra Ltd (M&M) on Friday said it is ready to give up its control of its ailing Korean subsidiary SsangYong Motor Company (SYMC) as soon as it finds a suitable investor.“We continue to look for new investors for SYMC," Pawan Goenka, M&M’s managing director, told reporters on Friday after India’s top utility vehicle and tractor maker announced it has plunged to a net loss in the fiscal fourth-quarter from a year-earlier profit.M&M, which holds nearly 75% in SYMC, was also in talks with the Korea Development Bank to arrange funds for the subsidiary.In April, the M&M board declined to invest fresh equity into SYMC and urged the company’s management to find alternative sources of funding.