The deep rift and the family dynamics within the YSR family has yet again come to the fore with YSRCP chief YS Jagan Mohan Reddy and his wife, Bharti filing a petition in the National Company Law Tribunal (NCLT) against his sister and APCC chief YS Sharmila and mother YS Vijayamma, seeking annulment of the transfer of shares in Saraswati Power and Industries Private Limited. The petition confirmed that the rift between the siblings began over share of property between the two which later culminated in a political rift when she joined the Congress and opposed her brother in the general and assembly elections in Andhra Pradesh. Both Jagan and Sharmila are the son and daughter of former AP chief minister YS Rajasekhara Reddy who was killed in a helicopter crash in 2010.
Reddy and his wife petitioned that the NCLT should cancel, annul and nullify the transfer of shares in the company to Sharmila and Vijayamma since it was done illegally. They claimed that they played significant role in the company and helped it to grow further. They had even signed a memorandum of understanding (MoU) on 21 August, 2019 to allocate shares to Sharmila, Vijayamma and others out of affection. However, the share transfers carried out through a Board Resolution dated 6 July were carried out without the submission of duly executed share transfer forms or original shares required under the Companies Act of 2013. The NCLT would conduct the hearing on 8 November and has issued the notices to involved parties.
However, it is interesting to note that YS Jagan Mohan Reddy mentioned in his petition that though he had signed the MoU out of affection towards his sister “there is no love left” between the siblings and hence he did not go forward with the transfer of the shares. He said that YS Sharmila conducted a series of actions that deeply hurt him. She also made “several untrue and false statements publicly and also conducted actions that have not only been politically opposed to applicant no. 1 (Jagan) but are also blatantly untrue and have caused deep personal disrepute to applicant no.1.” He also accused her of making “uncharitable aspersions” at a personal level which were politically motivated, he complained while adding that he had lost his affection for her due to Sharmila’s actions.
In the past, when Jagan was in prison it was Sharmila who had conducted padayatras and campaigned for the party. But after the win in 2019 the duo fell apart and Sharmila came to Telangana to form a separate party. She then merged her party with Congress and returned to Andhra Pradesh as the APCC chief and opposed the YSRCP rule.