SKS Microfinance blocking Akula's path to the boardroom?

The board of SKS Microfinance has made it difficult for the company’s founder and former chairperson, Vikram Akula’s second coming. Akula who was nominated by SKS Trust Advisors, the founding promoters, will now have to seek nomination on the board only at the shareholders' annual general meeting, reports CNBC-TV18's Gopika Gopakumar.

Whether Akula will be able to make a comeback after a two-year hiatus is a crucial question, but it looks like the board of SKS Microfinance could be creating a roadblock for him. This is the same board which overthrew Akula two years back.
Akula has, in fact, been nominated by the founding promoter of SKS Microfinance to be appointed as an additional director. They have sought immediate induction of Vikram Akula on the board of SKS Microfinance because the company has delayed the AGM or the annual general shareholder meeting by three months.
SKS Microfinance has confirmed receiving this appointment or seeking the request for an appointment from SKS Trusts Advisors, but the company quotes the Article of Association saying that under the article no shareholder has any special right to appoint a director on the board of SKS Microfinance.
So clearly, Akula will have to go through the AGM route to seek an appointment and there could be proxies who could vote against Akula at that AGM against his appointment as the additional director.