YSR didn’t divide family assets: Jagan Reddy’s mother amid property feud

Amid the property dispute between former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy and his sister and state Congress chief YS Sharmila, their mother YS Vijayamma said that her family assets were not divided when her husband was alive.
In an open letter, Vijayamma, the widow of former Andhra Pradesh Chief Minister YS Rajasekhara Reddy, said all assets belonged to the joint family and said Jagan Reddy and Sharmila would settle the matter.
Requesting privacy for the family, Vijayamma accused YSRCP leaders Vijaysai Reddy and VY Subba Reddy of giving a false narrative about the matter, despite knowing the facts.
“After Rajasekhar Reddy left us, we stayed together as a family for 10 years, from 2009 to 2019. Jagan took his share as a dividend and gave 200 crores to his sister. According to the MOU, Jagan had 60 per cent and Sharmila 40 per cent, but before the MOU, they shared equally, as she had an equal right. I was a witness to this then and now,” Vijayamma, a former MLA said.
She futrther said, “Later in Vijayawada, in my presence, it was decided which assets would go to Jagan and which to Sharmila. The MOU of 2019 was drawn up with Jagan himself stating and writing it. Jagan took his share as a dividend, and YS Sharmila received Rs 200 crore as her rightful share. The assets mentioned in the MOU are not a gift from Jagan but his responsibility as they rightfully belong to her according to YSR’s mandate”.
Vijayamma also said that Sharmila played a significant role in bringing Jagan to power and “It is difficult to watch one child being wronged by another”.
Hours after Vijayamma’s letter, Jagan Reddy’s YSR Congress Party issued a counter-response, accusing her of bias and labeling her statements “misleading” in a public rebuttal. The party contended that Vijayamma’s letter omitted key details about a conspiracy case and fraudulent share transfers in the Saraswati Company, allegedly influenced by Sharmila, which led to legal troubles for Jagan Reddy. They further clarified that Jagan Reddy had never requested the return of assets.
The YSR Congress Party also claimed that Vijayamma has not remained neutral, asserting that she has consistently backed Sharmila and the Congress, both before and after the recent Andhra Pradesh Assembly elections in which Jagan Reddy was defeated by N. Chandrababu Naidu’s Telugu Desam Party.
“If Mr. Jagan wrote an MoU saying that he would give the assets acquired by himself to Sharmila with love and affection, both Vijayammagaru and Sharmila signed it. Does this mean that Jagan has no right in the property acquired by them that day? And now it is mentioned in the letter that it is joint property so as not to mislead the people. Every family knows that if they are truly joint assets, the method of sharing them is not in the form of MoUs but comes as a legal right,” the YSRCP’s letter said.
It also mentioned that ever since Jagan Reddy “entered Telangana in the name of politics, Sharmila has been troubling Mr. Jagan whenever there is an opportunity”.
Recently, Jagan Reddy filed a plea against Sharmila and Vijayamma at the National Company Law Tribunal (NCLT) over a share dispute in Saraswati Power and Industries Private Limited. Jagan Reddy said he initially intended to allocate shares to Sharmila “out of love and affection” for her, but he withdrew the offer due to her recent political opposition to him.
Sharmila contested her brother’s allegation, claiming that she was targeted once she ventured into politics, despite maintaining that her involvement was for “family respect and YSR’s reputation”.
In her letter, Sharmila stated that all the businesses established by her father were family businesses, adding that it was her father’s wish for equal division of assets among his four grandchildren. Refuting claims that she sought Jagan Reddy’s personal property, she clarified that the assets in question are “family properties, not individual holdings”.
Jagan Reddy, on his part, has tried to downplay the feud, saying it was “ghar ghar ki kahani” (every household’s story).
The plea, filed under Section 59 of the Companies Act, seeks rectification of the register of members. Jagan Reddy and his wife YS Bharathi Reddy claim Sharmila and Vijayamma played a significant role in the growth of Saraswati Power and Industries Private Limited, and had signed an agreement to transfer a portion of his shares to Sharmila in 2019. However, the allocation was never finalised, leading to the current dispute.
Since these assets were under attachment by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) due to ongoing legal cases, the agreement explicitly stated that the transfer would only happen once the legal issues were resolved.
Despite being aware that the assets were legally attached and under court restrictions, Sharmila allegedly transferred shares from Vijayamma’s name, citing the agreement, Jagan’s plea claimed.
The case was listed in the NCLT on September 10 and the tribunal will hear the case on November 8.