The founder of Zoho, Sreedhar Vembu, a prominent figure in the tech industry, is currently involved in a high-profile divorce case that may result in one of the world’s most expensive settlements.
Court Order and Allegations
A California court has reportedly ordered Vembu to post a $1.7 billion bond to protect assets during the proceedings, which began in 2021. This order follows allegations of non-transparency in his financial dealings. However, Vembu’s legal counsel disputes the validity of the order, stating it is being appealed and cannot be fulfilled.
While a final agreement has not been reached, Pramila Srinivasan, Vembu’s ex-wife, is reportedly seeking ₹15,000 crore in alimony. Vembu’s legal team is advocating for a lower amount.
Core of the Dispute
Court filings reveal that Srinivasan alleges Vembu abandoned her and their autistic son in 2020 when he relocated to India. She also claims he transferred Zoho assets to family members in an attempt to shield them from California’s property laws during the divorce.
As of now, the case is ongoing, and the ultimate cost of the divorce remains uncertain. It is anticipated to be the most expensive divorce settlement involving an Indian tech entrepreneur to date.
Frequently Asked Questions
What prompted the court to order a bond?
The California court ordered Sreedhar Vembu to post a $1.7 billion bond amid allegations of non-transparency regarding his assets.
What is the amount of alimony being requested?
Pramila Srinivasan is reportedly seeking ₹15,000 crore in alimony, though this amount is still under negotiation.
What are the central claims made by Pramila Srinivasan?
Pramila Srinivasan alleges that Sreedhar Vembu abandoned her and their autistic son and transferred Zoho assets to family members to avoid California property laws.
What factors beyond financial assets might influence the outcome of this complex divorce case?
