Brother vs Sister As Jagan Reddy, Sharmila Battle Over A whole bunch Of Crores

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Brother vs Sister As Jagan Reddy, Sharmila Battle Over A whole bunch Of Crores

New Delhi:

Ex Andhra Pradesh Chief Minister YS Jagan Mohan Reddy is at conflict – with sister YS Sharmila Reddy – over an inheritance value crores, together with shares (value round Rs 19,000 every as of Thursday afternoon) in Saraswati Energy and different companies, and 20 acres of land in Yelahanka, a Bengaluru suburb.

The siblings’ soiled laundry made headlines this week after they exchanged letters – by which they every invoked the spirit of their late father, former Chief Minister YS Rajasekhara Reddy, whereas accusing the opposite of “deceitful (and) deeply hurtful” actions, and belittling their father’s reminiscence.

Jagan Reddy and Sharmila Reddy had been as soon as allies; Ms Reddy campaigned arduous for her brother’s YSR Congress within the run-up to Meeting by-polls in June 2012, by which the social gathering received 15 of 18 seats. She additionally campaigned for the YSRCP earlier than the 2019 Meeting election Jagan Reddy received handsomely.

Cracks within the relationship, although, turned obvious quickly after. In 2021 Ms Reddy floated her YSR Telangana social gathering that merged with the Congress earlier than the April-June basic election.

Ms Reddy was made the Congress’ Andhra boss, establishing a direct struggle along with her brother.

The brother vs sister spat has additionally rolled over right into a authorized battle after Mr Reddy wrote to the Nationwide Firm Legislation Tribunal, to red-flag the “unlawful” switch of shares in Saraswati Energy.

Jagan’s August Letter

Mr Reddy has claimed the shares had been “given to me in belief by a present deed” and that he had “gifted” them to their mom, YS Vijayalakshmi, “with the understanding that the switch… would occur submit court docket clearance (and) with execution of additional acceptable documentation…”

However these shares, the previous Chief Minister raged in his letter – by which he professed his “love and affection” 9 instances in two pages – had been transferred by his sister to herself in a “deceitful method (that) creates potential authorized issues for me”. These shares, he mentioned, would now “revert to me as the unique and persevering with proprietor and beneficiary of the curiosity…”

READ | Property Dispute Between Jagan Reddy, Sister Now Authorized Battle

The YSR Congress boss additionally declared void the MoU he signed in 2019 – by which he wrote of his intention “to impact switch of sure properties to you… out of my love and affection for you as my sibling, at a degree of time in future”. His letter, Mr Reddy mentioned, was to formally notify his sister that

“I’ve no additional intent to behave upon my unique intent as expressed within the MoU…”

Sharmila’s September Reply

Just a few weeks later Ms Reddy wrote to “Jagan anna (elder brother)” and expressed “critical objection”, flagging their father’s “unambiguous” instruction “that every one properties acquired with household sources throughout his lifetime must be divided equally between his 4 grandchildren”.

Ms Reddy accused her brother of agreeing to that dedication when their father was alive however “after our late father’s demise you refused…” Their mom, she mentioned, was a witness to his promise.

READ | “Fearful About My Brother’s Psychological State”: YS Sharmila Jabs Jagan Reddy

Ms Reddy additionally appeared to mock her brother over the “love and affection” protestations, saying any switch of belongings underneath such claims and listed within the MoU had been “solely in partial success” of their father’s needs. She mentioned she had allowed him to “bulldoze” his method into retaining majority shares in Bharathi Cements and Sakshi, and settled for the switch of belongings “at a degree of time sooner or later”.

READ | Jagan Reddy Is Not YS Reddy’s Successor, Says Sister Sharmila

She dismissed his intention to scrap the MoU, saying it has no authorized authority.

“You have got accomplished what our pricey father would by no means have imagined… filed instances in opposition to his pricey spouse (our mom) and daughter (myself) to deprive his household of their respectable share…”

On the vexed difficulty of Saraswati Energy shares, Ms Reddy claimed the intention had been to switch on signing of the MoU “however you (Jagan Reddy) failed to satisfy this promise for a number of years…”

The MoU is a “persevering with and binding doc”, Ms Reddy mentioned telling her brother his intention to withdraw from it “has no authorized significance”. “I’ll maintain you accountable for executing each time period”.

“My Profession, My Alternative”

YS Sharmila Reddy additionally ripped into her brother for apparently attempting to “dictate the phrases of my skilled conduct”, and the suggestion that her breaking away from the YSR Congress may have any bearing on “(our) pricey father’s directions for all his grandkids to have an equal share in belongings”.

NCLAT’s Summons

On the petition in regards to the switch of Saraswati Energy shares, the tribunal has issued notices to all involved and set November 8 as the following date of listening to.

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