Media in India is giving Indian-American millionaire, Vikram Akula, celebrity-status for the initial public offering of his company, SKS Microfinance. Time magazine lists the entrepreneur as one of the world's most influential people of 2006 and a "young global leader" in the World Economic Forum in 2008.
The one unflattering image for Akula's Initial Public Offering (IPO), reported by the New York Times, is the ongoing eight-year custody battle with his Indian-American ex-wife, Malini Byanna, a Chicagoan attorney. Their nine-year-old son, Tejas, is currently living with Akula in India.
The question of which nation's courts should have the final say, per NBC Chicago, is at the center of this custody battle and bitter divorce.
Byanna was awarded custody of Tejas in 2002. The case, now presented in the Illinois appellate court, argues that Akula has held the boy for the last year without her consent.
Akula, originally granted only temporary custody while Byanna underwent surgery in the U.S., has started custody proceedings in India. Byanna brought Tejas to India for a visit with his father, only for the duration of her recuperation, and had no idea that Akula wouldn't return the boy to the U.S. as agreed.
His lawyers now state that the American and Indian courts granted Akula temporary custody, until both cases are completed.
On October 10, 2009 Byanna filed a police report alleging that her ex-husband abducted their son. Tejas was "cut off" from his Chicago church, Cub Scout pack, karate class, soccer team and his friends.
Byanna also filed a complaint with Indian securities regulators stating that the prospectus for her husband's company, SKS Microfinance, conspicuously leaves out the U.S. State Department Bureau's report of "international parental child abduction."
The spokesperson for the State Department's bureau of consular affairs, John Echard, reported that, "A child is still being retained abroad, and Ms. Byanna, who has sole legal and physical custody of him, determined by an Illinois court, is still unable to exercise her custodial and parental rights."
Michael DiDomenico, the lawyer for Akula in Chicago, responded to Echard with, "The U.S. State Department has never requested information about this case, nor has it ever given Mr. Akula notice about their opinion."
Akula's lawyers appealed a lower court's decision that India didn't have the jurisdiction to give Akula custody of Tejas in India. Illinois appellate court justice commented that this was not a kidnapping, but keeping the child in India was in defiance of U.S. court orders.
Pamela Loza, Cook county Circuit Court Judge, is expected to rule within the next few weeks.
Akula, responding to the questions on his custody battle, declined to comment beyond stating that he is "Doing what's in the best interest of my son."
Byanna, contending that she fears for Tejas's safety, has Christmas presents and a tree waiting for the boy's return. They communicate through e-mail, Skype and even play board games when allowed. Byanna contends that the power, influence and position that Akula has in India has allowed him more favor. She has lost her home and is in debt for $600,000 due to court costs.
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