Y.S. Sharmila Accuses Brother Jagan of Denying Her Property Rights

Andhra Pradesh Congress Committee (APCC) President, Y. S. Sharmila, accused her brother and the ex-Chief Minister, Y. S. Jagan Mohan Reddy, of having dispossessed her and her children of their shares in the family estate.

Sharmila expressed shock at how far off the values of their late father, Y. S. Rajasekhara Reddy, his son Jagan Mohan Reddy had strayed.

"You have now gone ahead to file cases against your mother and deprive your sister and her children of their rights under the MoU. I am alarmed at the distance you have covered from the path of our noble father," she writes to Jagan Mohan Reddy in a letter.

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

Alleging that Sharmila, Vijayamma, and others illegally transferred the shares without following the laid procedures and violating the Memorandum of Understanding (MoU) signed on August 31, 2019, Y. S. Jagan, who is also the party president, along with his wife Y. S. Bharathi, has said they will move court against the illegal transfer.

According to Jagan, the MoU on transferring a few properties and shares with Sharmila was based on love and affection. He added that he was "immensely agonised" by the situation and the current estrangement between the siblings.

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

In response, Sharmila was sharply against the letter from Jagan, stating that he had decided to forgo the MoU. She wrote to him saying that their father had clearly and categorically stated that all such properties which are acquired using family resources and wealth shall be divided equally among his four grandchildren.

"You committed to that order and promised him and us that you will follow his word; but after our late father's death, you refuse to stand by that commitment. Our father was clear in his instructions that all four of his grandchildren 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 an observer of all interactions and agreements between us till date, Sharmila wrote.

Sharmila clarified that the assets appearing in the MoU as being transferred to her out of "love and affection" fulfilled only part of the directives of their father. She further added that, she agreed to settle under the MoU, although Jagan holds a majority share in Bharathi Cements and Sakshi.
"I must stress partial as you wanted to hold a majority share in Bharathi Cements and Sakshi.". But since you are on a higher pedestal, you have bulldozed it and we compromised as per the MoU. Since you are my elder brother and in favour of amicable settlement of family disputes, I compromised and settled for the claim of giving up my equal share. Therefore according to the MoU dated 31st of August, 2019, only a couple of properties were allotted to me, she said.

The letter had signatures from both Sharmila and her mother, Y. S. Vijaya Rajasekhara Reddy, popularly known as Vijayamma.

In his letter to Sharmila, Jagan expressed his hurt over her actions.
"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 acts undertaken by you, it makes me wonder why there should be any love and affection or fondness towards you after all the acts you have committed, he added.

Jagan further wrote that he was withdrawing his erstwhile intention expressed in the MoU owing to the present situation and that all the shares in Saraswati Power given by him in trust through a gift deed but deceitfully transferred by Sharmila would revert to him as the original and rightful owner.