Amid the deepening rift with her brother and former chief minister Y. S. Jagan Mohan Reddy, Y. S. Sharmila said on Friday that he is not the sole successor of family assets and that none of the family assets rightfully belong to her and her children were transferred to them.
She said no asset transfer took place either during the lifetime of their father Y. S. Rajasekhara Reddy (YSR) or after his demise.
“As of today, I declare that I still do not possess a single asset that is rightfully share of mine and my children,” Sharmila said in an open letter to the admirers of YSR.
Sharmila said that Jagan Mohan Reddy is not the sole successor of family assets. “As per the aspiration of YSR, all our family businesses that had been established must be equally shared among his four grandchildren. They did not belong solely to Jagan Mohan Reddy; Jagan Mohan Reddy is not the heir apparent or sole successor, but a mere guardian. It is his responsibility to oversee the distribution of these properties equally among the four grandchildren,” wrote Sharmila.
The Andhra Pradesh Congress Committee president released the letter in response to a news story published in Telugu daily ‘Sakshi’ owned by Jagan Mohan Reddy.
Stating that facts were manipulated and truth was hidden, Sharmila said she felt it was her duty to present facts.
“The properties that Jagan Mohan Reddy claims are his own are actually family assets,” she said and dismissed as false the claim that assets were distributed when YSR was alive.
She also claimed that her mother Y. S. Vijayamma wrote hundreds of letters requesting for the distribution of assets. “Hundreds of letters were written by my mother, but we would still not be able to move or melt the stone that a heart can be. Alas, as of today not a single asset belongs to my children, the share of which is theirs, legally and rightfully.”
On the claim that Rs 200 crores were given to her during 2009-2019, Sharmila said it was a subpart of the bigger narrative of the period where he was a different Jagan Mohan Reddy. “Now, one must realise that the 200 crores over 10 years reflects the acknowledgment of equal shares for my children, that is nothing but the half portion of the dividends from the companies. In no means, can this be considered a favour or a gift. It was an acknowledgment of my equal share, even if framed as a loan.”
She claimed that Jagan Mohan Reddy was a changed man after becoming the chief minister in 2019 as he proposed the separation n the family. She said he wanted 60 per cent shares in Bharati Cements and Sakshi and proposed 40 per cent for her. She said though her mother felt it was unreasonable and unfair, he ‘bulldosed and arm twisted us to ultimately have his say.’
“Within half an hour, it became clear which assets were going to whom: 40 per cent in Sakshi, 40 per cent of the 49 per cent of their share in Bharati Cements, 100 per cent in Saraswati Power, 100 per cnet in Yelahanka property, and late YSR’s residence, among others, became my share,” wrote Sharmila adding that subsequently an MoU was signed.
She also claimed that he wanted her to stop criticising him and when she refused, he filed a case against her and her mother in National Company Law Tribunal (NCLT) claiming they fraudulently took shares in Saraswati Power.
She appealed to YSR supporters not to be misled that she and her mother are deceitful or greedy for the sake of assets. “Even though the MoU has been with me for five years and not a single asset has been given to me, I have never disclosed it to media, nor did I knock the doors of law. Despite adversities and financial difficulties, I tried hard to uphold the family honour and YSR's dignity all these days,” she added.
