Y.S. Sharmila accuses brother Jagan of depriving her of property

Amaravati, Oct 23 : Andhra Pradesh Congress Committee (APCC) President, Y. S. Sharmila, has accused her brother and former Chief Minister Y. S. Jagan Mohan Reddy of depriving her and her children of their share in the family properties.

Sharmila said that she was 'appalled' at the extent to which Jagan Mohan Reddy strayed from the path of their father late Y. S. Rajasekhara Reddy.

"You have now chosen to file cases against your mother and deprive your sister and her children of properties to which they are entitled under the MoU. I am appalled at the extent to which you have strayed from the path of our noble father," she wrote to Jagan Mohan Reddy.

The letter written last month surfaced on Wednesday after reports that Jagan Mohan Reddy has filed a petition in the National Company Law Tribunal (NCLT), seeking orders to annul the transfer of shares in Saraswati Power and Industries Private Limited to his sister Sharmila and mother Y. S. Vijayamma.

Jagan, YSRCP President, and his wife Y. S. Bharathi, also a petitioner, accused Sharmila, Vijayamma, and others of transferring shares illegally without following the rules and violating the MoU signed on August 31, 2019.

The former Chief Minister also said that his intention to transfer certain properties and shares to Sharmila, expressed in an MoU dated August 31, 2019, was based purely on love and affection. He, however, stated that he was immensely agonised by the turn of events.

"Having realised that there is no love left between the two siblings, decided not to proceed with the transfer of shares/properties," says the petition.

Sharmila's letter was in response to the letter sent by Jagan Mohan Reddy informing her that he has no further intent to act upon his original interest as expressed in the MoU.

"I take serious objection to the letter you recently sent me," wrote Sharmila, who reminded him that their father "unambiguously instructed that all the properties acquired with the family resources during his lifetime should be divided equally among his four grandchildren".

"You agreed to that command and assured him and us that you would obey his word; but after our late father's death, you refuse to stand by that commitment. Our father was unequivocal in his instructions that all four of his grandchildren are to share equally in all assets that existed during his lifetime, whether they pertain to Bharathi Cements, Sakshi, or any other ventures initiated before his passing. Our mother was not only a witness to these explicit instructions but also observed all interactions and agreements between us till date," she wrote.

Sharmila also wrote that the assets mentioned in the MoU as being transferred to her out of 'love and affection' were, in truth, only in partial fulfillment of their father's directives.

"I must emphasise "partial" as you insisted on retaining a majority share in Bharathi Cements and Sakshi. But since you have the upper hand, you did bulldoze your way and we agreed to a settlement as stated in the MoU. Since you are my elder brother and in the interest of resolving family disputes, I agreed to give up my equal share. Thus, under the MoU executed on August 31, 2019, only a few properties were assigned to me," Sharmila added.

The letter was signed by Sharmila Reddy and her mother Y. S. Vijaya Rajasekhara Reddy, who is popularly known as Vijayamma.

Jagan, in his letter to Sharmila, wrote that her actions had deeply hurt him.

"You have also made several untrue and false statements publicly and conducted actions that have not only been politically opposed to me, but also blatantly untrue and have caused personal disrepute to me."

"Given this and other actions undertaken by you, it makes me wonder why there should be any love and affection or fondness towards you after all the actions you have committed," he wrote.

"Given the present situation, where I revoke my intention as originally expressed, the shares in Saraswati Power given by me in trust by a gift deed and deceitfully transferred by you would also revert to be as the original and continuing owner and beneficiary of the interest in shares of Saraswati Power," he added.