In 2021, late united Andhra Pradesh and popular Congress leader Y.S. Rajasekhara Reddy’s daughter, Y.S. Sharmila embarked on a new political journey by floating YSR Telangana Party (YSRTP). It was the first time that the political differences with her brother Y.S. Jagan Mohan Reddy, who was the Chief Minister of Andhra Pradesh and President of the YSR Congress Party (YSRCP), were out in the open. Since then, the relations between the two siblings soured.
In the same year, a Memorandum of Understanding (MoU) was signed by Jagan, which has now formed the basis of a new rift between the two.
Jagan ని మెట్టు తో కొట్టిన Sharmila... తు మీ బతుకులు pic.twitter.com/vRRegYFgBH
— Rebuild AP (@RebuildAP_CBN) October 24, 2024
As per the MoU, Jagan intended to transfer his shares in Saraswati Power Company to Sharmila. The events that unfolded since 2021 led Jagan now knock on the doors of the NCLT (National Company Law Tribunal) against his sister and mother, Y.S. Vijayamma with an appeal to terminate the MoU.
In the last week of August this year, Jagan wrote a letter to Sharmila. In the letter, he highlighted two issues. The first was about her political and personal criticisms of him which he said hurt him.
In the backdrop of the MoU and also reminding her of the transfer of Rs 200 crores made over the last decade, he wrote, “Despite my disposition of love and affection towards you, without a shred of gratitude, giving least regard to my well-being, you have conducted a series of actions that have been deeply hurtful to me. You have also made several untrue and false statements publicly and conducted actions that, have not only been politically opposed to me but are also blatantly untrue and have caused personal disrepute to me.”
The second issue is the accusation that Sharmila had misused her position to transfer the shares without his knowledge and official signatures.
According to Jagan, the gift deed of the shares was made in the name of his mother, Y.S. Vijayamma, an intermediary here, with the intent the shares could be transferred to Sharmila at a later stage when his name is cleared by the ED in the pending cases. However, he objected to her transferring the shares in her name from her mother which is the crux of the issue.
Jagan has termed it illegal.
“But belying the trust, specific understanding and contrary to the legal advice tendered which was also shared with you, informally and formally at different points in time, you have gone ahead and implemented the share transfer without the share transfer forms being signed by me or share certificates being handed over by me and without court clearance, in a deceitful manner creating potential legal complications for me,” he said.
By “potential complications” Jagan means that the transactions could affect his bail and make his legal position vulnerable with respect to the cases he is facing.
In the wake of these developments, Jagan has challenged that the shares should rightfully revert to him.
Also, through the letter he conveyed that in the matters of family inheritance and property distribution, Sharmila received her due and the intention to transfer shares of Saraswati Power was only borne out of brotherly affection.
Two weeks later, Sharmila responded through a letter where she made her stand clear.
She asserted that since their father “unambiguously instructed that all the properties acquired with the family resources during his lifetime should be divided equally amongst his four grandchildren,” she and her children have a stake in other businesses and assets as well where she hasn’t been given her share.
“Only a few properties were assigned to me,” she said. With respect to the allegation surrounding Saraswathi power, she wrote, “Legally your letter is contrary to the MoU and has no sanctity.”
Another part of the letter read, "On Saraswati Power, which was designated as part of my share according to the MoU, you pledged to transfer all its shares to me immediately following the signing of the MoU agreement. However, you failed to fulfil this promise for several years.”
She justified the actions surrounding the transfer of shares to her from her mother. “You executed gift deeds giving full rights over the shares of Saraswathi Power to our mother.”
In the letter signed by Sharmila and her mother, Vijayamma, she also said that Jagan cannot dictate terms to her on her political activity and attempted to disconnect the issue of sharing allotments with her political actions.
Recently, Jagan commented on the issue by dismissing it as a family dispute which is common in every household. Sharmila also commented by saying that it is unfair of Jagan to file cases against her and her mother.
At NCLT, the petition was filed by Jagan on September 10. It is listed to be heard on November 8.
Meanwhile, the politics of the state now revolve around the issue. Whether it is their senior leadership or social media handles, the ruling Telugu Desam Party (TDP) is proactively amplifying the issue targeting Jagan on this issue. The YSRCP is calling this another diversionary tactics of the TDP to distract people from the real issues.
