Amid the widening split with her brother and former chief minister Y. S. Jagan Mohan Reddy, Y. S. Sharmila Friday said he isn't sole heir to the family fortunes and that neither any family assets rightfully belongs to she and her kids who received all the assets transferred into their names.
She said that neither in the lifetime of their father Y. S. Rajasekhara Reddy (YSR) nor after his death did the transfer of any asset happen.
"As of today, I declare that I still do not possess a single asset that is rightfully share of mine and my children," Sharmila said in an open letter to the admirers of YSR.
Sharmila also clarified that Jagan Mohan Reddy is not the sole successor of family assets. As per the aspiration of YSR, all our family businesses that had been established must be equally shared among his four grandchildren. They did not belong solely to Jagan Mohan Reddy; Jagan Mohan Reddy is not the heir apparent or sole successor, but a mere guardian. It is his responsibility to oversee the distribution of these properties equally among the four grandchildren," wrote Sharmila.
The Andhra Pradesh Congress Committee president has released the letter in the wake of a news story published in Telugu daily 'Sakshi' owned by Jagan Mohan Reddy.
"Facts have been manipulated, and the truth has been hidden," said Sharmila, while stating that it was her duty to present facts.
"The properties that Jagan Mohan Reddy claims are his own are actually family assets," she said and dismissed as false the claim that assets were distributed when YSR was alive.
She also alleged that her mother Y. S. Vijayamma wrote hundreds of letters requesting for the distribution of assets. "Hundreds of letters were written by my mother, but we would still not be able to move or melt the stone that a heart can be. Alas, as of today not a single asset belongs to my children, the share of which is theirs, legally and rightfully."
This is part of the overall story of those 10 years during which he was a different Jagan Mohan Reddy, so it can't be said that 200 crores were received during 2009-2019," she said. Now, one must realize that the 200 crores over 10 years reflect the acknowledgment of equal shares for my children, that is nothing but the half portion of the dividends from the companies. This wasn't done as a favor, or as a gift. It was an acknowledgment of my equal share, even if framed as a loan."
She said Jagan Mohan Reddy had undergone a transformation ever since he became the chief minister in 2019 when he suggested separation n the family. She said he wanted 60 per cent shares in Bharati Cements and Sakshi and proposed 40 per cent for her. She said though her mother felt it was unreasonable and unfair, he 'bulldosed and arm twisted us to ultimately have his say.'
"Within half an hour, it became clear which assets were going to whom: 40 per cent in Sakshi, 40 per cent of the 49 per cent of their share in Bharati Cements, 100 per cent in Saraswati Power, 100 per cnet in Yelahanka property, and late YSR's residence, among others, became my share," wrote Sharmila adding that subsequently an MoU was signed.
She also stated that he had requested her to refrain from criticizing him and that she refused to do so; therefore, he filed a case against her and her mother in the National Company Law Tribunal (NCLT) claiming that they had fraudulently obtained shares in Saraswati Power.
She appealed to the YSR supporters not to be misguided that she and her mother are dishonest or greedy for the sake of assets. "Even though the MoU has been with me for five years and not a single asset has been given to me, I have never disclosed it to media, nor did I knock the doors of law. Despite adversities and financial difficulties, I tried hard to uphold the family honour and YSR's dignity all these days," she added.
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