Jagan Reddy and YS Sharmila are locked in a bitter dispute over household property
Hyderabad:
Amid YSR Congress chief YS Jagan Mohan Reddy’s dispute together with his sister and Congress chief YS Sharmila over an inheritance price crores, their mom YS Vijayamma has written an open letter, placing her weight behind Ms Sharmila and saying that it is her “responsibility to talk up for the unfairly handled baby”.
In response, the YSR Congress Party launched an open letter, saying “mom has not been impartial”. The Jagan Reddy-led get together mentioned Vijayamma backed Sharmila and the Congress earlier than and after the Andhra Pradesh Assembly polls. In the state polls held earlier this yr, YSRCP suffered a rout and Jagan Reddy misplaced energy to arch-rival, TDP’s N Chandrababu Naidu. The YSRCP mentioned YS Sharmila joined the get together that had put Jagan Reddy in jail.
She wrote that Sharmila was not concerned within the household enterprise however labored selflessly in politics on Jagan Reddy’s directions. “Jagan’s rise to energy owes a lot to Sharmila’s efforts. As a mom, all kids are equal. It’s painful to see injustice finished to 1 baby. As a mom, it is my responsibility to talk up for the unfairly handled baby,” Vijayamma wrote. She mentioned it’s “deeply painful” for her to look at these occasions unfold. “My late husband, Rajasekhara Reddy, our kids, and I had been a contented household. I’m unable to understand why our household is dealing with such difficulties. Despite my efforts to cease it, unlucky occasions are unfolding earlier than my eyes,” she wrote.
Vijayamma slammed baseless claims being unfold about her household and mentioned this should cease. “It’s not good for my kids, nor for the state. I hesitated to deliver this up, however the scenario calls for it. I implore those that have spoken wrongly about our household to stop.”
“Blood is thicker than water. My kids will reply for themselves. I belief in God, who will present options to their issues,” she wrote.
Dismissing claims that YSR distributed his property amongst his kids whereas he was alive, she wrote, “YSR had transferred some property to my youthful daughter, Sharmila’s title, and a few to my son, Jagan’s title, whereas he was alive. That’s not dividing property; it is simply allocating them.”
YS Rajasekhara Reddy, chief minister of undivided Andhra Pradesh and a well-liked Congress chief, died in a helicopter crash in 2009.
“YSR’s want was for his kids to have equal shares, and that is the reality. Jagan labored exhausting to develop our property, however all property belong to the household,” Vijayamma wrote.
“After YSR’s premature passing in 2009, Jagan and Sharmila lived collectively till 2019. Jagan gave Sharmila 200 crores from his share as per their settlement. According to the MoU, Jagan would get 60%, and Sharmila 40%. However, earlier than the MoU, they shared equal dividends since Sharmila had an equal share,” she wrote.
Vijayamma wrote that Jagan Reddy proposed a division in property after he grew to become Chief Minister in 2019. She mentioned he cited considerations about their grown kids doubtlessly not getting alongside.
“After that, in Vijayawada, in my presence, they determined to divide the property, saying ‘that is Jagan’s and that is Sharmila’s’. The MoU written in 2019 is identical one. This is the MoU written and signed by Jagan himself. Since Sharmila had rights, Jagan gave her 200 crores as dividends. Sharmila had rights, which is why they wrote the MoU. It was written formally.”
“The properties talked about within the MoU to be given to Sharmila usually are not items from Jagan however his accountability. Since there have been no attachments, Jagan promised and signed that he would give Sharmila 100% of Saraswathi shares talked about within the MoU and 100% of the Yelahanka property not talked about within the MoU instantly,” Vijayamma wrote.
“Sharmila was additionally unfairly handled relating to the unattached properties. Shaarmila’s share included Bharati Cements, Sakshi Media, and YSR’s home, which ought to be given after the instances,” she added. She mentioned she needed to converse as much as make clear the reality “amidst the falsehoods unfold by many”. “The fact is that this… Still, they’re siblings. This is their problem; they are going to resolve it,” she wrote.
“If Rajasekhara Reddy had been alive, this asset problem would not have arisen, and there would not be such controversy. I would not have needed to converse out if it weren’t for the continued chaos. I consider solely my phrases can cease this. Please, I request you all, as my kids, to chorus from talking irresponsibly,” Vijayamma wrote.
YSRCP responded to Vijayamma’s letter, saying that Jagan Reddy by no means requested for the property again. “YS Jagan has shared his property together with his sister Sharmila out of goodwill. She is not a director in any of Jagan’s companies. Jagan handled Sharmila with kindness, identical to any brother would. Late CM Rajasekhara Reddy had already transferred property to Sharmila and Jagan. Jagan by no means requested for these property again. He solely despatched a discover relating to the change of hooked up properties in ED instances with out his information,” YSRCP state secretary SV Satish Reddy mentioned in an announcement.
The Siblings’ Letter War
The siblings have exchanged bitter letters amid the dispute and accused one another of “deceitful (and) deeply hurtful” actions that belittle their father’s reminiscence.
Jagan Reddy earlier wrote to the National Company Law Tribunal to red-flag the “unlawful” switch of shares in Saraswati Power. He mentioned 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 put up courtroom clearance (and) with execution of additional acceptable documentation…”
But these shares, the previous Chief Minister wrote, had been transferred by his sister to herself in a “deceitful method (that) creates potential authorized problems for me”. These shares, he mentioned, would now “revert to me as the unique and persevering with proprietor and beneficiary of the curiosity…” The YSR Congress boss additionally declared void the MoU he signed in 2019. The MoU talked about his intention “to impact switch of sure properties to you… out of my love and affection for you as my sibling, at some extent of time in future”.
In response, Ms Sharmila flagged their father’s “unambiguous” instruction “that each one properties acquired with household assets throughout his lifetime ought to be divided equally between his 4 grandchildren”.
She dismissed Jagan Reddy’s intention to scrap the MoU, saying it has no authorized authority.
“You have finished what our pricey father would by no means have imagined… filed instances towards his pricey spouse (our mom) and daughter (myself) to deprive his household of their reputable share,” she wrote.
On the vexed problem of Saraswati Power shares, Ms Reddy claimed the intention had been to switch on signing of the MoU “however you (Jagan Reddy) failed to meet this promise for a number of years…”
The firm regulation tribunal might be listening to the matter on November 8.
The inheritance dispute comes after the siblings parted methods politically. From campaigning extensively for her brother until the 2019 Assembly polls, YS Sharmila moved away in 2021 to drift her YSR Telangana get together. This merged with the Congress earlier than the overall election this yr. The Congress named YS Sharmila the get together’s Andhra Pradesh chief, pitting her as her brother’s challenger.