The company has appointed P H Ravi Kumar, independent director, as the interim non-executive chairman.
One of India's most successful bottom-of-the-pyramid entrepreneurs parries questions on several issues that have arisen around his venture.
The storyline pretty much resembles that of Apple co-founder Steve Jobs, who was fired from the company in 1985.
In 2012, Akula quit as chairman of Bharat Financial Inclusion (formerly SKS Microfinance), which he'd founded and led to a successful initial public offering
It might be difficult to repeat the SKS success with VAYA Finserv, say analysts
As the chairperson of SKS Trust, the largest shareholder in SKS Microfinance, Biksham Gujja created a stir by announcing they wanted to nominate Vikram Akula, the ousted boss who had founded the company the latter founded, as its representative on the board.
Esops are considered perquisites from a taxation perspective. If you are employed with the company at the time of exercising, then the perquisite amount would be added to your salary and subject to tax deducted at source as per the slab rate applicable.
An eclectic mix of Radias, Ambanis and Akulas hogged the headlines this year, with many an unfolding plot promising eventful corporate tales in 2011.
Clad in his trademark kurta pyjama Vikram Akula has never been at a loss for words while articulating to the media the pivotal role that micro-lending can play to liberate the rural poor from the clutches of money lenders. It earned him the status of poster boy for the microfinance industry.
SKS was listed on the local bourses in August 2010 at a 5.6 per cent premium on its issue price of Rs 985. It appeared a bet that could hardly go wrong. Broking firms like Edelweiss Capital, Angel Broking, HDFC Securities and India Infoline had recommended to their clients to buy shares of SKS.
Sure, a few listings like those of SKS Microfinance and Gujarat Pipavav have seen significant investor interest, but experts say it's too early to signal a primary market revival.
Akula may be much celebrated, but he is not alone. There are dozens of MFI success stories, all of whom have surfaced over the last five-seven years, with a common mandate to "eradicate poverty", profitably. With a turnaround time for MFIs at one or two years, competition among the top few MFIs is intensifying to attract equity investments. Interestingly, with barely 15 per cent of rural households currently MFI borrowers, there is sufficient leeway for growth.
With the mantras 'Explore, Dream, Discover,' the 17th edition of the three-day Network of Indian Professionals in North America (NetIP) conference to be held in Boston offers to the 800 participants opportunities to hear industry leaders and stalwart professors, including Gururaj 'Desh' Deshpande of Sycamore Networks; Tarun Khanna, professor at Harvard University Business School; and Vikram Akula of SKS Microfinance.
As many as 17 Indians -- including Wadia Group chairman Jeh Wadia, SKS Microfinance CEO Vikram Akula, Bhatia Enterprises chairman Sabeer Bhatia, music composer A R Rahman, and sitar player Anoushka Shankar -- have been named the Young Global Leaders for 2008, in a list announced by the World Economic Forum on Tuesday. As many as 245 leading executives, public figures and intellectuals -- all aged 40 or younger -- were chosen from around the world by the WEF.
The US-born microfinance guru, who still speaks with a twang, runs one of the country's largest microfinance companies, SKS Microfinance.
Biksham Gujja contributed to major global initiatives such as the World Commission on Dams, World Water Commission and World Water Forum.
'An entrepreneur should always remain under pressure or he will die,' Vineet Rai tells Anjuli Bhargava.
What is it about Arohan that puts it in the top league of microfinance institutions in the country?
Murthy no more chairman emeritus; founders do not want to be addressed as promoters.
Trust explores options on reinduction of ousted founder on board as firm closes ranks.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
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