YSR Congress Party president and former Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy appears to be determined to continue his legal dispute with his mother, Y S Vijayamma, over the transfer of shares in Saraswati Power and Infra Ltd.
According to sources, Jagan has filed an interim petition before the National Company Law Tribunal (NCLT) seeking a stay on the transferred shares of Saraswati Power, which are now in Vijayamma’s name.
In his petition, Jagan reiterated his allegations that his mother and sister, Y S Sharmila, had illegally transferred shares that originally belonged to him and his wife, Y S Bharati, without his authorization or signatures.
Jagan has named Vijayamma, Sharmila, Sandur Power, and the Registrar of Companies as respondents in the case.
However, the NCLT deferred the hearing to April 3, as the respondents requested additional time to file their counters on both the main petition and the interim petition.
Earlier, Vijayamma told the NCLT that Jagan and Bharati were misleading the tribunal. She firmly stated that there was no transfer of Saraswati shares in Sharmila’s name and that her daughter was being unnecessarily dragged into the case.
"Sharmila has no connection to Saraswati Power or the gift deed. Jagan and Bharati are unnecessarily pulling her into this controversy," she asserted.
Vijayamma also claimed that she held sole rights over the Saraswati Power shares.
"Jagan, in his dispute with Sharmila over assets, is making me run around the courts. It is unfair for Jagan and Bharati to put me through this hardship," she told the tribunal.
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