The property dispute between YSR Congress party president YS Jagan Mohan Reddy and his sister Y S Sharmila continued to escalate on Saturday with the Andhra Pradesh Congress Committee (APCC) president reiterating her “legitimate right” on the properties owned by her brother.
The legal battle between the siblings began when former chief minister Reddy filed a petition before the National Company Law Tribunal (NCLT) accusing his sister and state Congress chief Sharmila of illegally transferring shares of Saraswati Power and Industries Private Limited, which were held by him and his wife YS Bharathi, in her and their mother Vijaya Lakshmi’s name. The plea, seen by HT, is expected to come up before the tribunal for hearing on November 8, people familiar with the matter said.
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Amid the escalating property dispute, YSRCP MP and Sharmila’s uncle YV Subba Reddy claimed on Saturday that the companies in question are solely owned by Jagan, and Sharmila was never a shareholder. He added that these companies were established during the tenure of her father YSR, who did not designate her as a shareholder.
Responding to the claim at a press conference, Sharmila said: “If Jagan had any faith in the god, should take an oath on his children and say whether I had equal rights in the properties owned by him.”
She added: “Subba Reddy was very much aware that YSR had asked Jagan to give me equal share in his companies, including Bharati Cements and Jagati Publications. Jagan, too, had given a commitment to the father in this regard, but has now taken a U-turn”.
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Sharmila wondered why Jagan had signed an MoU transferring the shares in his companies to me, if I had no right in his properties. “Any person would give a saree or a gold chain to his sister as a gift out of love and affection, but not a share in his properties. He was forced to give 40% shares in the companies because I have a legitimate right in the properties,” she said.
The Congress leader reiterated that the shares of Saraswati Power and Industries were not under the attachment of the Enforcement Directorate and hence, Jagan had signed the gift deed transferring the shares. When the shares were transferred in their mother’s name, he was alleging that it was done only to get his bail cancelled, she said.
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“It clearly shows that in order to protect himself, Jagan can go even to the extent of dragging his own mother to the court. She did not utter a word against him but must be repenting for giving birth to such a person,” she said.
Earlier, Subba Reddy alleged that the ongoing controversy surrounding the assets was an attempt by Sharmila, under the influence of Telugu Desam Party president and chief minister N Chandrababu Naidu, to undermine Jagan.
“The recent legal action taken by Jagan at the National Company Law Tribunal was not for reclaiming assets but only to prevent legal complications. “The MoU clearly specified that he had intended to share some of his self-acquired assets with Sharmila out of affection, which Sharmila and Vijayamma signed,” he said.