look news india
Jagan Mohan Reddy has a property dispute with his sister Sharmila: YSR Congress Party President YS Jaganmohan Reddy has accused his sister and Congress Andhra Pradesh unit President YS Sharmila of illegally transferring shares of 'Saraswathi Power and Industries' in the name of himself and his mother Vijayamma. The door of National Law Tribunal (NCLT) has been knocked.
The feud between Jaganmohan and Sharmila has now taken the form of a legal battle.
Jaganmohan claimed that Saraswati Power and Industries is owned by me and my wife. The dispute between Jaganmohan and Sharmila has now taken the form of a legal battle. The Hyderabad bench of NCLT heard the petition filed last month and scheduled the next hearing of the case in November.
In the plea, the YSRCP president said, “I had signed an MoU with Sharmila in which she had said, 'out of love and affection', I transfer the shares of mine and my wife to my estranged sister through a gift deed. Will transfer it to. Which will be subject to the pending cases in respect of certain properties including attachment by the Enforcement Directorate.
Jaganmohan, in a letter to his sister, said transferring shares without fulfilling legal obligations and without court approval would have adverse effects.
Our relationship is not good.
However, he expressed his desire to cancel the MOU, saying, 'It is no secret that our relations are no longer good, and in view of this changed situation, I would like to formally inform you that my original wish which was I have no intention of executing what is expressed in the MOU.
I am very saddened by Sharmila's many actions…
He said that the property and ancestral properties acquired by my father, former Chief Minister YS Rajasekhara Reddy, were distributed among the family members. Sharmila has done many things without caring for the well-being of her brother which has hurt me deeply and she has also made many false statements in public. Following a rift with her brother, Sharmila joined the Congress party earlier this year and was made the president of the party's Andhra Pradesh unit. In the general elections held in May, Sharmila contested from Kadapa Lok Sabha seat but lost.