I used my income so he could focus on Zoho, now he says I own just 5% of it: Vembu’s wife
In a shocking revelation, Pramila Srinivasan, the wife of billionaire Sridhar Vembu, has come forward with a stunning claim. According to Srinivasan, she used her income to support her husband as he built Zoho, the successful software company, after he quit his job. However, in a bitter twist, Vembu has now claimed that he owns only 5% of the company, leaving his wife feeling shocked and betrayed.
The story begins with Srinivasan’s sacrifices for her husband’s entrepreneurial dreams. When Vembu quit his job to focus on building Zoho, Srinivasan used her income to support the family, allowing her husband to dedicate himself to his business venture. At the time, it seemed like a reasonable decision, as Vembu’s passion and dedication to Zoho were evident. However, little did Srinivasan know that her sacrifices would ultimately lead to a bitter dispute over the company’s ownership.
Years later, when Vembu filed for divorce, Srinivasan was shocked to learn that her husband claimed to own only 5% of Zoho. This revelation came as a surprise to her, as she had always believed that the company was a joint effort, built on the sacrifices and hard work of both partners. “I felt shocked to learn only after he filed for divorce that he claimed to own just 5% of the company he’d spent our marriage building,” Srinivasan said, expressing her sense of betrayal and disappointment.
But what’s even more surprising is that Vembu’s sister, Radha, is the largest shareholder of Zoho, with a staggering 47.8% stake in the company. This raises questions about the ownership structure of Zoho and how Vembu’s family members have benefited from the company’s success. It also highlights the complexities of family-owned businesses and the potential for disputes over ownership and control.
The case has taken a dramatic turn, with a US court ordering Vembu to post a $1.7 billion bond in the divorce case. This move is seen as a significant development, as it indicates that the court is taking Srinivasan’s claims seriously and is willing to take measures to ensure that she receives a fair share of the company’s assets.
The dispute between Vembu and Srinivasan has sparked a wider debate about the role of spouses in supporting entrepreneurial ventures. While it’s common for spouses to make sacrifices for their partner’s business, the Vembu-Srinivasan case highlights the importance of having clear agreements and understandings about ownership and control. It also raises questions about the extent to which spouses should be recognized as co-owners or co-founders of a business, even if they are not directly involved in its operations.
In recent years, there have been several high-profile cases of spouses disputing ownership and control of successful businesses. These cases often involve complex legal and financial issues, making it challenging for courts to determine the rightful ownership and distribution of assets. The Vembu-Srinivasan case is no exception, and its outcome will likely have significant implications for the future of Zoho and its stakeholders.
As the case continues to unfold, it’s clear that the dispute between Vembu and Srinivasan is far from over. With the US court’s decision to order Vembu to post a $1.7 billion bond, Srinivasan may finally receive the recognition and compensation she deserves for her contributions to Zoho’s success. However, the case also serves as a reminder of the importance of clear communication, agreements, and understandings in business and personal relationships.
In conclusion, the Vembu-Srinivasan case is a complex and fascinating story that highlights the challenges and complexities of family-owned businesses. As the case continues to unfold, it will be interesting to see how the court’s decision will impact the future of Zoho and its stakeholders. One thing is certain, however: the outcome of this case will have significant implications for the role of spouses in supporting entrepreneurial ventures and the importance of clear agreements and understandings about ownership and control.
News Source: https://www.thenewsminute.com/news/exclusive-us-court-orders-sridhar-vembu-to-post-17-billion-bond-in-divorce-case
About the Author
