'No love left,' Jagan Reddy moves tribunal against sister Sharmila

YSRCP chief and former Andhra Pradesh chief minister, YS Jagan Mohan Reddy had approached NCLT's Hyderabad bench against his mother YS Vijaya Lakshmi and sister YS Sharmila Reddy in connection with a dispute over transfer of shares in a company exposing the widening rift in the YS family.In the petition, Jagan had mentioned that love and affection between the siblings has now melted down and Sharmila's recent actions had deeply hurt him. Months before the assembly elections, Sharmila joined Congress and taken up the reins of the grand old party as its Andhra PCC chief. She campaigned openly and extensively against Jagan during the polls.Sharmila's open utterances about him had caused significant electoral loss to Jagan who faced a crushing defeat at the hands of TDP led NDA alliance.
On September 10, Reddy and his wife Bharathi Reddy had petitioned NCLT, asking the company to reinstate them as shareholders with the same equity shares as before the transfers were made by Sharmila. They  alleged that share transfers to Sharmila and Vijayamma were carried out through a Board resolution in July 2024 without following proper legal procedure. “The share transfers were a culmination of a deceitful deviance of law. This transfer is clearly in derogation of the express understanding, intent, and text of the MoU and other documents exchanged between the parties,” Jagan and his wife said in the petition.
According to the petition, Jagan out of pure 'love and affection' signed an MoU on August 31, 2019 to transfer certain properties and shares to Sharmila. This is after Jagan registered a overwhelming victory in that year's assembly polls and became chief minister of Andhra Pradesh. The case, which was initially listed in the NCLT on September 10, has now been listed for November. It was filed under Section 59 of the Companies Act, which deals with the rectification of the register of members.
After a public falling out with her brother, YS Sharmila had floated her own party in 2021. The YSR Telangana party, however, was merged with the Congress ahead of the 2024 elections. YS Sharmila was made the chief of Andhra Pradesh Congress, and she has sharply attacked Mr Reddy, who was Chief Minister at the time. She had also contested and lost from the Kadapa Lok Sabha constituency against her cousin Avinash during the elections in May.