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News Topical, Digital Desk : The divorce of Zoho founder and CEO Sridhar Vembu is believed to be India's most expensive. In the ongoing divorce case in California, a court has ordered Sridhar Vembu to deposit a bond of $1.7 billion.
The primary reason for the divorce between Sridhar Vembu and his wife, Pramila Srinivasan, is custody and a share in Zoho. The dispute also concerns the division of marital assets accumulated by the couple while living in California.
Vembu returned to India in 2019
After graduating from IIT-Madras, Vembu went to the US to pursue a PhD in electrical engineering from Princeton University in 1989. Four years after moving to the US, in 1993, he married entrepreneur Pramila Srinivasan.
In 1996, Sridhar Vembu along with his colleagues started a software development company called AdventNet and in 2009 changed its name to Zoho Corporation.
Sridhar Vembu and Pramila Srinivasan lived in California for nearly three decades. The couple also has a 26-year-old son. In 2019, Vembu returned to India and began managing Zoho from his native village of Mathalamparai in Tamil Nadu.
Wife made allegations
According to a Forbes report, Vembu filed for divorce in August 2021. Pramila Srinivasan alleged that Vembu had given most of the company's shares to his sister Radha Vembu and brother Sekhar.
Radha currently holds approximately 47.8% of the company, while Vembu Technologies founder Sekhar holds 35.2%. Vembu himself holds only a 5% stake, valued at US$225 million. Sridhar Vembu has dismissed all of his wife's allegations as fabricated.
Bonds worth Rs 14,000 crore will have to be deposited.
In a January 2025 order, the California Supreme Court ordered Vembu to post a bond of US$1.7 billion (over ₹14,000 crore in Indian currency). The court stated that this was necessary to protect Srinivasan's rights to the marital property from potential harm.
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