#MCExclusive | #PadmajaReddy, founder & former head of #SpandanaSphoorty Financial, is planning to float a new NBFC teaming up with a few former senior management colleagues, promoters will soon apply to the RBI for a licence
Scoop by Dinesh Unnikrishnan at
https://www.moneycontrol.com/news/business/exclusivespandana-sphoorty-founder-padmaja-reddy-to-float-new-nbfc-with-former-colleagues-7753431.html
Scoop by Dinesh Unnikrishnan at
https://www.moneycontrol.com/news/business/exclusivespandana-sphoorty-founder-padmaja-reddy-to-float-new-nbfc-with-former-colleagues-7753431.html
Moneycontrol
Exclusive | Spandana Sphoorty Founder Padmaja Reddy To Float New NBFC With Former Colleagues
The new NBFC will focus on secured loans. In early November, Padmaja Reddy quit Spandana saying she was not stepping down by choice but because the Board’ did not extend her contract.
#PadmajaReddy, founder & former MD of microfinance firm #SpandanaSphoorty has highlighted multiple consultants by the new management & the factual accuracy of the figures, intensifying an ongoing battle between her & the board.
Dinesh Unnikrishnan ✍️ at
https://www.moneycontrol.com/news/business/spandana-sphoorty-founder-board-battle-intensifies-as-reddy-questions-long-list-of-consultants-collection-efficiency-figures-7782131.html
#SpandanaSphoortyIssues
Dinesh Unnikrishnan ✍️ at
https://www.moneycontrol.com/news/business/spandana-sphoorty-founder-board-battle-intensifies-as-reddy-questions-long-list-of-consultants-collection-efficiency-figures-7782131.html
#SpandanaSphoortyIssues
Moneycontrol
Spandana Sphoorty founder-board battle intensifies as Reddy questions long list of consultants, collection efficiency figures
Earlier in an interview with Moneycontrol, Reddy had said she was forced to quit after differences on the valuation at which the majority investor wanted to sell the firm to Axis Bank. Reddy also said she didn’t have any plan to return to the company.