Spandana Sphoorthy, former MD Padmaja Reddy heading for truce over dues

Sources say many details yet to be worked out, and that it isn't clear if talks will lead to a comprehensive pact to end strife. Clarity expected in 10-15 days, they add

Spandana Sphoorty Financial Ltd (SSFL), Micro Finance Institution backed by private equity fund Kedaara, and Padmaja Reddy, its founder and former managing director are moving toward some understanding on payment of dues and clearing related party transactions.

Sources said the conversations are ongoing between the company and Padmaja Reddy. It pertains to payment of dues by and her relationship with MFI and lawsuits she has filed to avoid legal battles.

While there is some understanding on dues, many details are yet to be worked out. It was not clear if this would lead to a comprehensive pact to