CHENNAI: Zoho Corp founder Sridhar Vembu denies allegations that he abandoned his wife and son with autism and special needs and dismisses the transfer of personal assets to his family members.
“I (Sridhar Vembu) will say this unequivocally: I never ever transferred my shares in the company to anyone else. I lived in the US for the first 24 years of our 27-year history and much of what constitutes the company was built in India. That is reflected in the ownership,” he said in a long Twitter thread in response to his wife’s allegations.
Vembu further said, “It is complete fiction to say I financially abandoned Pramila and my son. They enjoy a far richer life than I do and I have supported them fully. My United States salary for the last three years has been with her, and I gave our house to her. Her foundation also is supported by Zoho.”He and his wife Pramila Srinivasan are going through a divorce proceeding in California court.
The Zoho founder is currently living in a small village in Tenkasi, southern district of Tamil Nadu, approximately 650 kms from Chennai, while they live at San Francisco Bay area. Pramila Srinivas has alleged that Sridhar Vembu made sales of the most valuable community assets (shared assets) to his family members for free and without asking her permission, according to a Forbes report.
Forbes on Monday reported Pramila Srinivasan’s allegation that Sridhar Vembu made sales of the most valuable community assets (shared assets) to his family members without their paying any cash and without asking her permission, bas “I have always supported Pramila and my son and will continue to support them as long (as) I live. I will continue to build institutions and capabilities in rural India, my only remaining purpose in life. My prayer is that someday my beloved son will join me here,”
Vembu said on the social network. Vembu also added that his son’s Autism made him ‘suicidally depressed' on the court filings. She also charged that he moved Zoho’s intellectual property to India and eventually placed the majority of the shares with his sister and her husband, without ever telling her, according to the report. Sridhar Vembu blames his uncle Ram who is living in his house in the United States for the problem.