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The sibling rivalry between former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy and his sister, YS Sharmila Reddy, has escalated into a full-blown legal battle over a substantial inheritance worth crores of rupees. At the heart of the dispute are shares in Saraswati Power and other companies, valued at approximately Rs 19,000 each as of Thursday afternoon, along with 20 acres of land in Yelahanka, a suburb of Bengaluru.
The dispute came to light this week with the public exchange of letters between the siblings, each invoking the memory of their late father, former Chief Minister YS Rajasekhara Reddy, while accusing the other of deceitful and hurtful actions. Jagan Reddy claims that the shares were initially given to him in trust, subsequently gifted to their mother, YS Vijayalakshmi, with the understanding that the transfer would happen after court clearance and further documentation. He alleges that his sister, Sharmila, transferred these shares to herself in a deceitful manner, potentially creating legal complications for him.
Sharmila, however, counters Jagan's claims, asserting that their father's unambiguous instruction was to divide all family assets equally amongst his four grandchildren. She accuses Jagan of agreeing to this commitment while their father was alive but reneging on it after his death. She further claims that their mother is a witness to Jagan's promise. The dispute also extends to a 2019 MoU signed by Jagan, in which he pledged to transfer certain properties to Sharmila in the future. He has now declared this MoU void, stating that he has no further intention of acting upon it.
Sharmila has strongly contested Jagan's attempt to invalidate the MoU, arguing that it is a binding document. She also criticizes Jagan's attempts to dictate her professional conduct and suggests that his actions are motivated by a desire to deprive his family of their rightful share of their father's legacy. The dispute has now reached the National Company Law Tribunal (NCLAT), where Jagan has filed a petition challenging the transfer of Saraswati Power shares. The tribunal has issued notices to all concerned parties and scheduled the next hearing for November 8th.
The bitter public spat between the siblings has exposed deep fractures in their relationship and brought to light the complex dynamics of family inheritance and political ambition. The legal proceedings are likely to continue for some time, casting a shadow over the family's legacy and potentially affecting their political careers. The NCLAT's decision could have significant implications for the ownership of Saraswati Power shares and set a precedent for future inheritance disputes within the family.
Source: Brother vs Sister As Jagan Reddy, Sharmila Fight Over Hundreds Of Crores