The ongoing family dispute between former Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy and his sister Y.S. Sharmila has now escalated to the National Company Law Tribunal (NCLT). Jagan approached the tribunal seeking to block the transfer of shares in Saraswathi Power Company from his mother, Y.S. Vijayamma, to Sharmila.
Jagan’s contention is that these shares were originally gifted to his mother and cannot be transferred further without his consent. After several rounds of hearings and detailed examination, the tribunal has delivered an interim verdict in Jagan’s favour, temporarily halting the transfer of these shares.
This decision is being seen as a moral and legal victory for Jagan, as it prevents Sharmila from gaining control over the company for now. The tribunal highlighted that ongoing investigations by the CBI and ED into related matters make the transfer of ownership impermissible at this stage.
For her part, Sharmila has consistently claimed that Jagan is holding on to ancestral assets that she rightfully deserves a share of. However, Jagan appears determined to use every legal avenue available to ensure that no such transfer takes place until these cases are resolved.
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