Vembu offers 50% of his Zoho shares to his wife amid divorce proceedings, she refuses
In a shocking turn of events, billionaire Sridhar Vembu, the founder and CEO of Zoho, has offered to give 50% of his shares in the company to his wife, Pramila Srinivasan, amid their divorce proceedings. This revelation was made by Vembu’s lawyer, Christopher Melcher, who stated that the offer was made in an effort to settle the divorce amicably. However, in a surprising move, Pramila has refused the offer, with her lawyer claiming that Vembu is trying to cheat her in the divorce.
According to Melcher, Vembu’s offer to give 50% of his Zoho shares to Pramila is a testament to his commitment to fairness and equity in the divorce proceedings. “Instead, she has claimed that Sridhar is trying to cheat her in the divorce,” Melcher said. “This makes no sense as Sridhar has already transferred his interest in the family home to her,” he added. This statement suggests that Vembu has already made significant concessions in the divorce, and the offer to give up 50% of his Zoho shares is a further attempt to settle the matter amicably.
The divorce proceedings between Vembu and Pramila have been making headlines in recent weeks, with both parties engaging in a bitter battle over assets and ownership. Zoho, a software company founded by Vembu in 1996, has grown into a multi-billion dollar enterprise, with a valuation of over $10 billion. As the founder and CEO, Vembu’s shares in the company are estimated to be worth billions of dollars, making the offer to give 50% of his shares to Pramila a significant concession.
However, Pramila’s refusal to accept the offer has raised eyebrows, with many questioning her motives. According to her lawyer, Pramila believes that Vembu is trying to cheat her in the divorce, and that the offer to give up 50% of his Zoho shares is not a genuine attempt to settle the matter. This claim has been disputed by Melcher, who argues that Vembu has already made significant concessions in the divorce, including transferring his interest in the family home to Pramila.
The divorce proceedings between Vembu and Pramila have also been marked by a bitter battle over a $17 billion bond order. According to reports, a court had issued a bond order requiring Vembu to deposit $17 billion with the court, which would be held in escrow until the divorce proceedings are finalized. However, Vembu’s lawyer has claimed that the bond order is invalid, and that it was issued without proper notice or hearing. Pramila’s lawyer, on the other hand, has argued that the bond order remains in force, and that Vembu is required to comply with it.
The ongoing divorce proceedings between Vembu and Pramila have raised significant questions about the ownership and control of Zoho. As the founder and CEO of the company, Vembu’s shares are estimated to be worth billions of dollars, and the outcome of the divorce proceedings could have significant implications for the company’s future. While Vembu’s offer to give 50% of his Zoho shares to Pramila may have been seen as a generous concession, her refusal to accept the offer has raised concerns about the potential for a protracted and bitter battle over assets and ownership.
In conclusion, the divorce proceedings between Vembu and Pramila have taken a surprising turn, with Vembu’s offer to give 50% of his Zoho shares to Pramila being refused. While the motives behind Pramila’s refusal are unclear, it is clear that the divorce proceedings will be marked by a bitter battle over assets and ownership. As the founder and CEO of Zoho, Vembu’s shares in the company are estimated to be worth billions of dollars, and the outcome of the divorce proceedings could have significant implications for the company’s future.
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