Gurumani not right for changed micro fin business: SKS

Interestingly, neither Akula nor the two other directors present at the press conference

responded to newspersons who referred to the hike in Gurumani's remuneration as recently as September 7. However, an SMS sent by the company's PR agency later in the evening said the bonus and increment had been approved by the board on July 16. Asked what had changed between September 7 and September 27, Akula said the board had become better aware of the changed situation in the microfinance industry. Sandstone Capital Advisors CEO Paresh Patel, who is a shareholder of SKS, said on the sidelines of the press conference, "The board got to know of the inter- personal issues between Gurumani and the senior management on September 7, 2010."

Gurumani not right for changed micro fin business: SKS

By: Bhavana Jhingan

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