Vembu offers 50% of his Zoho shares to his wife amid divorce proceedings, she refuses
In a surprising 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 stunning move, Pramila has refused the offer, with her lawyer claiming that Sridhar is trying to cheat her in the divorce.
According to Melcher, Vembu’s offer to give 50% of his shares in Zoho to Pramila is a significant one, considering the company’s valuation and Vembu’s stake in it. Zoho is a highly successful software company that has been valued at billions of dollars, and Vembu’s shares in the company are a substantial portion of his net worth. By offering to give 50% of his shares to Pramila, Vembu is essentially offering her a significant amount of money and a substantial stake in the company.
However, despite the generosity of the offer, Pramila has refused it, with her lawyer claiming that Sridhar is trying to cheat her in the divorce. This claim makes little sense, according to Melcher, who pointed out that Sridhar has already transferred his interest in the family home to Pramila. “This makes no sense as…Sridhar has already transferred his interest in the family home to her,” Melcher said. “It’s not clear what else she wants.”
The divorce proceedings between Vembu and Pramila have been ongoing for some time now, and the two parties have been engaged in a bitter dispute over the division of assets. Vembu’s offer to give 50% of his shares in Zoho to Pramila was seen as an attempt to settle the dispute amicably, but Pramila’s refusal of the offer has thrown a spanner in the works.
It’s worth noting that the valuation of Zoho is not publicly disclosed, but it’s estimated to be in the billions of dollars. Vembu’s stake in the company is substantial, and his offer to give 50% of his shares to Pramila would have given her a significant amount of money and a substantial stake in the company.
The refusal of Pramila to accept Vembu’s offer has raised questions about what she is hoping to achieve in the divorce proceedings. Is she seeking a larger share of the assets, or is there something else at play? It’s not clear what her motivations are, but it’s clear that the divorce proceedings are going to be a long and bitter one.
The case has also sparked a debate about the division of assets in divorce proceedings, particularly when it comes to high-net-worth individuals like Vembu. Should the division of assets be based on the principle of equal division, or should other factors be taken into account? The case of Vembu and Pramila is likely to set a precedent for future divorce cases involving high-net-worth individuals.
In conclusion, the offer by Vembu to give 50% of his shares in Zoho to Pramila amid their divorce proceedings is a significant one, and her refusal of the offer has raised more questions than answers. As the divorce proceedings continue, it will be interesting to see how the case unfolds and what the final outcome will be.
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