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 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 despite this generous offer, Srinivasan has refused to accept it. Instead, she has accused Vembu of trying to cheat her in the divorce, a claim that Melcher finds puzzling.
According to Melcher, Vembu’s offer to transfer 50% of his Zoho shares to Srinivasan is a significant one, considering the company’s valuation and Vembu’s stake in it. Zoho is a well-known software company that provides a range of business applications, including customer relationship management, project management, and office productivity tools. The company has been growing rapidly in recent years, and its valuation is estimated to be in the billions of dollars.
Melcher expressed surprise at Srinivasan’s refusal to accept Vembu’s offer, stating that it “makes no sense” given the fact that Vembu has already transferred his interest in the family home to her. This, according to Melcher, demonstrates Vembu’s willingness to settle the divorce amicably and ensure that Srinivasan is well taken care of.
The divorce proceedings between Vembu and Srinivasan have been making headlines in recent weeks, with both parties engaging in a bitter battle over assets and other issues. The latest development in the case is the claim by Vembu’s lawyer that a $1.7 billion bond order issued against Vembu is invalid. However, Srinivasan’s lawyer has countered that the bond order remains in force.
The bond order was issued to ensure that Vembu does not transfer or dispose of his assets, including his shares in Zoho, during the pendency of the divorce proceedings. Vembu’s lawyer has argued that the bond order is invalid, as it was issued without proper notice to Vembu. However, Srinivasan’s lawyer has disputed this claim, stating that the bond order was issued after proper notice and is therefore valid.
The dispute between Vembu and Srinivasan is not only about the bond order but also about the valuation of Vembu’s assets, including his shares in Zoho. Srinivasan’s lawyer has claimed that Vembu’s assets are worth much more than what he has disclosed, and that he is trying to hide his true wealth. Vembu’s lawyer, on the other hand, has denied these allegations, stating that Vembu has been transparent about his assets and has provided all necessary documentation.
The case is likely to continue for several more weeks, with both parties engaging in a fierce battle over assets and other issues. The outcome of the case will be closely watched, as it will have significant implications for Vembu, Srinivasan, and Zoho.
In the meantime, Vembu’s offer to transfer 50% of his Zoho shares to Srinivasan remains on the table. While Srinivasan has refused to accept the offer, it is unclear whether she will reconsider her decision in the future. One thing is certain, however: the divorce proceedings between Vembu and Srinivasan will continue to be closely watched, as the two parties navigate the complex and often contentious process of dividing their assets.
As the case continues to unfold, it will be interesting to see how the parties involved navigate the complex issues at play. Will Vembu and Srinivasan be able to reach a settlement, or will the case go to trial? Only time will tell. For now, the offer by Vembu to transfer 50% of his Zoho shares to Srinivasan remains a significant development in the case, and one that will likely be closely watched in the coming weeks.
In conclusion, the divorce proceedings between Sridhar Vembu and Pramila Srinivasan have taken a dramatic turn, with Vembu offering to transfer 50% of his Zoho shares to Srinivasan. While Srinivasan has refused to accept the offer, it is unclear what the future holds for the two parties. As the case continues to unfold, it will be interesting to see how the parties involved navigate the complex issues at play.
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