Microfinance

Vikram Akula’s former wife writes open letter about SKS Microfinance

Malini Byanna , the estranged first wife of Vikram Akula – the founder of SKS Microfinance has written an open letter to a leading financial magazine Moneylife which contains acrimonious allegations against her former husband and executive chairman of SKS Microfinance.

The letter details the circumstances under which SKS Microfinance was formed and contain many allegations of financial misconduct against Vikram Akula. Considering that Vikram Akula and Malini Byanna are in the middle of a bitter child custody battle and looking to settle scores with one another, readers would be advised to take all allegations and counter allegations with a grain of salt.

Vikram Akula Wife SKS

Vikram Akula with Malini Byanna in happier times. Img-Credit:indiawest.com

The letter By Malini Byanna , former wife of Vikram Akula follows below


Dear Sucheta Dalal,

Thank you for having the courage to write such an article, (Moneylife note – please see: http://www.moneylife.in/article/4/9883.html) finally exposing the truth about Dr Vikram Akula et al and the “corporate governance” issues, or more accurately “power and control” issues, that have been long-standing, dating back to our separation and divorce, which was initiated by our then 8-month-old son being abducted in Chicago, Illinois by his father, his father’s family, and members of his company in an effort to preclude me from attending a previously scheduled SKS Foundation board meeting during which I was going to call for formal resolutions to be passed such that SKS Foundation and SKS Education would be under my direct management and purview and SKS Microfinance and SKS Technologies under his.

I had called for the same due to stark differences in the legal, ethical, and fiscal management of the international development company that Dr Vikram Akula claims to have founded, which in fact was established in the Fall of 1999 subsequent to our engagement, with me assembling a Board of Directors for Navariti, Inc., later SKS Foundation, at a time when SKS Microfinance was not flourishing and the so-called founder was ready to pack his bags and move back to the United States.

Read the rest on the Moneylife Magazine

Abhay N

Author : 

Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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