In a significant development in the ongoing family property dispute, Andhra Pradesh Congress president YS Sharmila has publicly asserted that her brother, former chief minister YS Jagan Reddy, does not fully own their family assets but acts solely as a “guardian.” This statement sheds light on the complexities surrounding their family businesses, established during the lifetime of their father, the late YS Rajasekhara Reddy, who also served as chief minister of Andhra Pradesh.
In an open letter, Sharmila emphasized that Jagan is responsible for ensuring that the family businesses are equitably divided among their four grandchildren two from Jagan’s side and two from hers. She stated, “All the assets are not owned by Jagan. He is only the ‘guardian’ of all existing family businesses. It is his responsibility to divide them equally.” According to Sharmila, this mandate was clearly conveyed by their father before his passing.
Sharmila also highlighted her own financial involvement, revealing that she has received ₹200 crore in dividends from various family companies over the past decade. She reiterated her belief that the late Rajasekhara Reddy intended for his grandchildren to receive equal shares of the family wealth.
Sharmila has made it clear that she is demanding her rightful share of the family properties, as intended by their late father. She stated that the ongoing dispute regarding the transfer of shares from Saraswati Power and Industries is unrelated to the cancellation of any bail. She pointed out that the Enforcement Directorate had only attached land worth ₹32 crore belonging to the company, not its shares.
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In her statements, Sharmila accused Jagan and his supporters of blaming her for his electoral defeat in the last Assembly elections. She claimed that he sought a settlement under the condition that she refrain from criticizing him, his wife Bharathi, and cousin YS Avinash Reddy. However, she declined, asserting that such a condition was untenable for a political leader.
The tension between YS Jagan Mohan Reddy and YS Sharmila escalated further when Jagan filed a petition with the National Company Law Tribunal (NCLT). He accused Sharmila and their mother, YS Vijayamma, of unlawfully transferring shares of Saraswati Power and Industries into their names. Jagan characterized this as a necessary legal move, while also downplaying the situation as a “common family matter.”
Jagan’s office issued a statement indicating that he felt compelled to take this step due to the alleged deceptive actions by Sharmila and Vijayamma regarding the share transfers. This accusation marks a significant escalation in their family feud, revealing deep-rooted tensions that have implications not only for their personal relationships but also for the political landscape in Andhra Pradesh.
As the property row unfolds, both siblings continue to exchange allegations, raising questions about family loyalty and political ambition. Sharmila’s claim that Jagan serves merely as a guardian of family assets could reshape perceptions of their family’s legacy and influence in Andhra Pradesh politics.
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