Jagan does not fully own family assets, only ‘guardian’, says Sharmila

PTI Palakkad: Estranged YSRCP chief Jagan Mohan Reddy’s sister Y S Sharmila on Friday said that all the businesses which were established when former Chief Minister and her father Y S Rajasekhara Reddy was alive, are of family assets and Jagan is just a “guardian” of them. In an open letter, she said that her late father Rajasekhara Reddy’s intention was that Jagan should divide all the businesses equally among the four grandchildren - two each of Jagan and Sharmila. She said she received Rs 200 crore during the past 10 years towards her family share as dividends from various companies which established the fact that all four grandchildren of Rajasekhara Reddy would get equal portions. “They (all the assets) are not owned by Jagan. He is only the “Guardian” of all existing family businesses. It is the responsibility of Jagan to divide all the businesses equally among the four grandchildren.

It was the mandate of (late) Rajasekhara Reddy. YSR conveyed his intention to his children and his wife. Close associates, including KVP Ramachandra Rao, YV Subbareddy and Vijayasai Reddy know about this,” she said. Sharmila said she has been demanding a due share in the properties as their late father desired that all the grandchildren should get equal pie. “Transfer of shares (of Saraswati Power and Industries) has nothing to do with the cancellation of his bail,” she said. She said the shares of Saraswati Power and Industries were not attached by the Enforcement Directorate but only the land of the company worth Rs 32 crore. Sharmila said Jagan and his supporters feel that she was the reason for his defeat in the last Assembly polls and hence her brother wanted a settlement with condition that that she should never criticise him, his wife Bharathi and Kadapa MP and cousin YS Avinash Reddy. However, Sharmila, who is APCC chief, disagreed saying as leader of a political party it was not possible.

She alleged that the settlement with her brother did not fructify as she did not agree to the conditions and subsequently Jagan filed a petition in the National Company Law Tribunal. The APCC chief claimed that Jagan always opposed her entry into politics. As she entered politics, the former chief minister’s teams resorted to her character assassination on social media platforms, the Congress leader alleged. Jagan in September moved the NCLT accusing Sharmila of illegally transferring shares of Saraswati Power and Industries held by him and his wife Bharathi in her and their mother Vijayamma’s names. Jagan on Thursday downplayed his filing a petition in NCLT seeking it to reverse a share transfer done by his sister saying it is “ghar gharki kahani (happenings in every household)”.