The SKS spat

     Print Edition: Nov 14, 2010

1.November 2008
Former Barclays retail banking head Suresh Gurumani joins SKS Microfinance as CEO.

2.August 2010
SKS Microfinance lists on BSE and NSE, the first microfinance company to do so in India.

3.October 4, 2010
SKS's board sacks Gurumani and appoints Deputy CEO M.R. Rao as his successor.

4.October 8, 2010
The Andhra Pradesh High Court re-instates Gurumani to the SKS board, and restrains Rao from taking any major policy decision.

5.October 11, 2010
SKS Founder Vikram Akula cites "interpersonal issues" in the senior management as the reason for Gurumani's sacking.

-T.V. Mahalingam


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