At a time speculations are spreading that compromise formulas are being worked out between YCP chief and former chief minister YS Jaganmohan Reddy and his sister and APCC chief YS Sharmila over sharing of property, besides a `political truce’, filing of a case by Jaganmohan Reddy in the National Company Law Tribunal (NCLT) against his mother YS Vijayamma and sister Sharmila creating sensation.
]Five petitions were filed this year in the names of Classic Realty Private Limited, YS Jaganmohan Reddy and his wife YS Bharti Reddy. In this petition, Saraswati Power and Industries Private Limited, Jagan’s sister YS Sharmila Reddy, his mother YS Vijaya Rajasekhar Reddy along with Janarthan Reddy Chagari, Yashwanth Reddy Kethireddy, Regional Director South East Region and Telangana Registrar of Companies have been named by him as respondents.
While one petition was filed on September 3 this year, three petitions were filed on September 11 and another petition was filed on October 18 by Jaganmohan Reddy, Sharmila Reddy and Classic Realty Private Limited. He stated in his election affidavit that YS Jagan has shares in Saraswati Power and Industries Private Limited.
It is reported that a complaint was filed in the NCLT after a dispute arose between them regarding the transfer of shares in that company. These petitions were filed in the Saraswati Company shares dispute. It was stated in the petition that according to the MoU of August 21, 2019, shares of the company were allotted to Vijayamma and Sharmila, but the allotment was not done due to various reasons.
A petition has been filed stating that a decision has been taken to withdraw those shares. Regarding the petition filed on 3rd September, the quorum issued notices to the respondents Rajiv Bharadwaj and Sanjay Puri and adjourned the further hearing to 8th November. Advocate Y Suryanarayana arguing on behalf of Jaganmohan Reddy.
The real reasons for this petition need to be known. Jagan owns shares in Saraswati Power and Industries Private Limited. Jagan’s filing of a petition including that company along with his mother and sister as respondents has become a topic of discussion.
