Billion-dollar divorce! US court orders Zoho chief Sridhar Vembu to pay ₹15,300-Cr settlement
A US court ordered Zoho founder Sridhar Vembu to pay a ₹15,300-Crore bond in his divorce case with Pramila Srinivasan.Summary
A California court has mandated Zoho founder Sridhar Vembu to deposit a bond of approximately ₹15,300 crore (USD 1.70 billion) as part of his divorce proceedings with his wife, Pramila Srinivasan. The dispute, which began in 2021, centers around allegations by Srinivasan that Vembu deserted her and their autistic son after relocating to India in 2019, and that he transferred Zoho shares and property to India without her consent. California law dictates equal sharing of assets acquired during the marriage, and Srinivasan claims Vembu transferred shares to his siblings, reducing his current ownership to five percent. The court’s order, intended to protect Srinivasan’s claims given a perceived lack of transparency in Vembu’s financial dealings, is being challenged by Vembu’s legal team. Vembu has offered to share his current holdings with his wife, an offer she has reportedly declined.
(Source：Mathrubhumi English)