The dispute over share transfers within the YS family remains unresolved, with YS Vijayamma and Sharmila asserting ownership while YS Jagan Mohan Reddy alleges that the shares were unlawfully taken from him. The matter is currently under review at the National Company Law Tribunal (NCLT).
In the latest hearing on Jagan’s petition challenging the share transfers, both parties sought additional time to file their counterarguments. Taking this into account, the NCLT has adjourned the hearing to April 3.
Jagan has claimed that his mother, Vijayamma, and sister, Sharmila, illegally transferred shares registered under his and his wife YS Bharathi’s names without their signatures. The petition names Vijayamma, Sharmila, Sandur Power, and the Registrar of Companies as respondents.
Meanwhile, Vijayamma had earlier submitted a letter to the NCLT, objecting to Sharmila’s alleged involvement in the Saraswati Power Corporation Limited share transfer case. She clarified that all shares were transferred to her and asserted that Jagan and Bharathi Reddy had no stake in the company. She further alleged that both were attempting to mislead the tribunal and emphasized that Sharmila had no connection to Saraswati Limited or the gift deed.
Vijayamma also accused Jagan of unnecessarily bringing personal property disputes into the case, stating that it was an attempt to divert the tribunal’s attention from the core issue.