Spandana Sphoorty-Reddy settlement clears way for announcing FY22 results

Padmaja Reddy resigned from her position as the managing director of the company on November 2, 2021. Subsequently, certain disputes arose between Reddy and the board

The settlement of disputes between Spandana Sphoorty Financial Ltd’s (SSFL) board and Padmaja Reddy, its erstwhile managing director, has paved the way for the micro finance institution to announce audited results for FY22 before June 30, 2022. It had delayed the declaration of results pending an agreement between the board and Reddy.

The company and Reddy have resolved their differences and have agreed to part ways on amicable terms. The Board of Directors of the company and its subsidiaries (i.e. Criss Financial Ltd and Caspian Financial Services Ltd) on June 21, 2022 approved the Settlement Agreement and the same has