Tensions have once again surfaced in the YS family and a property dispute between Jagan Mohan Reddy and sister Sharmila has completed its full circle. Former chief minister Jagan and his wife Bharathi had filed a case in the National Company Law Tribunal (NCLT) against Sharmila and mother Vijayamma with an allegation that they held shares in Saraswathi Company. Filed on 9th September, it said Jagan and Bharathi had contributed towards the development of the company. They added that, according to a Memorandum of Understanding signed on August 21, 2019, shares were to be given to Vijayamma and Sharmila which has not been done due to various reasons.
Jagan Mohan Reddy has now decided to withdraw the initial shares allocated to his sister, which has made things worse in the dispute. Jagan, in his petition, said he had offered the shares initially out of goodwill, but he had reconsidered and wished to withdraw them. He and Bharathi further accused Sharmila of attempting to illegally alter the shareholding, prompting their decision to seek withdrawal of the shares. They also requested the court to confirm their ownership in the company standing at 51%. The hearing on this petition is scheduled for November 8, and her response is much awaited.