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 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 successful software company that provides a range of business applications, and Vembu’s shares in the company are estimated to be worth billions of dollars. By offering to give half of his shares to Srinivasan, Vembu is essentially offering her a substantial amount of wealth and a significant stake in the company.
However, Srinivasan has refused to accept this offer, and instead, has accused Vembu of trying to cheat her in the divorce. Melcher finds this claim to be contradictory, given that Vembu has already transferred his interest in the family home to Srinivasan. “This makes no sense as Sridhar has already transferred his interest in the family home to her,” Melcher said. “If he was trying to cheat her, why would he give her the family home?”
The divorce proceedings between Vembu and Srinivasan have been ongoing for some time, and the couple has been unable to come to a mutually agreeable settlement. The offer to transfer 50% of Vembu’s Zoho shares to Srinivasan was seen as a significant concession on Vembu’s part, and it is unclear why Srinivasan has refused to accept it.
One possible explanation is that Srinivasan is seeking a larger share of Vembu’s assets, including his stake in Zoho. As the founder of the company, Vembu’s shares in Zoho are likely to be highly valuable, and Srinivasan may be seeking to secure a larger portion of these assets as part of the divorce settlement.
Another possibility is that Srinivasan is concerned about the long-term implications of accepting Vembu’s offer. By accepting 50% of Vembu’s Zoho shares, Srinivasan would become a significant shareholder in the company, and she may be concerned about the potential risks and responsibilities that come with this role.
The refusal by Srinivasan to accept Vembu’s offer has significant implications for the divorce proceedings. The couple’s lawyers will need to negotiate a new settlement that takes into account Srinivasan’s refusal to accept Vembu’s offer. This may involve a more detailed valuation of Vembu’s assets, including his stake in Zoho, and a more nuanced discussion of the potential risks and benefits of different settlement options.
In conclusion, the offer by Vembu to transfer 50% of his Zoho shares to Srinivasan amid their divorce proceedings is a significant development in the case. The refusal by Srinivasan to accept this offer has significant implications for the divorce settlement, and it will be interesting to see how the couple’s lawyers navigate this complex situation.
As the divorce proceedings continue, it is likely that there will be further twists and turns in the case. The valuation of Vembu’s assets, including his stake in Zoho, will be a critical factor in determining the final settlement. It is also possible that the couple may need to engage in further negotiations to reach a mutually agreeable settlement.
Ultimately, the outcome of the divorce proceedings will depend on a range of factors, including the valuation of Vembu’s assets, the couple’s respective financial needs and goals, and the ability of their lawyers to negotiate a fair and reasonable settlement.
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https://www.thenewsminute.com/amp/story/news/vembus-lawyer-claims-17-billion-bond-order-invalid-pramilas-lawyer-says-it-remains-in-force
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