Venture Intelligence (TSJ Media Pvt. Ltd.)
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New twist in Spandana founder and Kedaara Capital's public spat
The spat between Spandana Sphoorty's founder Padmaja Reddy and Kedaara Capital (the Private Equity firm owning a 45% stake in the company) is taking a new twist with the PE firm questioning Spandana's IT management and the functioning of Criss Financial, the gold loan unit of the company, under her leadership. The new management at Spandana has also hired an independent agency to probe into issues. Earlier, Reddy alleged that she was forced to resign from the entity she founded following disagreement with Kedaara on the pricing of the proposed sale to Axis Bank.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.