Differences with Kedaara Capital led to Spandana founder’s exit

Spandana Sphoorty Financial Ltd founder and managing director Padmaja G. Reddy was asked to resign from the microlender following differences with the majority shareholder Kedaara Capital over the company’s proposed sale to Axis Bank Ltd. In an email to the company’s employees and its board, Reddy, the founder of the Hyderabad-based lender, claimed ......