'Cancelled Agreement Knowing There Was No Love..', Jagan Reddy on His NCLT Petition Against Sister Sharmila

YS Jagan, in his petition before NCLT, claimed there was no familial love any more as Sharmila levelled allegations against him politically and personally.

Amaravati: The ongoing property dispute between the family members of former AP chief minister late YS Rajasekhar Reddy has escalated further. Rajasekhara Reddy's so and former CM Jagan Mohan Reddy filed a petition in NCLT (National Company Law Tribunal) saying that he canceled the agreement earlier reached with his sister Sharmila after finding that there was no familial love between them any more. He said that Sharmila targetted him politically and personally.

YSRCP chief Jagan Mohan Reddy recently dragged his mother and sister to court alleging that the board illegally transferred the shares of Saraswati Power Company. In this case, several correspondences with sister Sharmila were submitted to the NCLT.

YS Jagan and his wife Bharti Reddy have filed a petition in NCLT (Hyderabad) claiming that Saraswati Power Board has illegally transferred their shares in Saraswati Company in the name of mother Vijayamma. They wanted cancellation of these shares. Following this, notices have been issued to the respondents Sharmila, Vijayamma, Saraswathi Power Company and others in this petition.

Before the respondents responded to the notices, Jagan Reddy submitted the correspondence with his sister Sharmila to the tribunal.

On September 17, YS Jagan said, 'The transfer of assets was completed while our father was still alive. It has been 10 years since he passed away. Even though she married 20 years ago, I made an agreement to share the property with love. However, knowing that there was no love due to Sharmila's accusations politically and personally, I canceled it."

Jagan filed an interim petition before the tribunal to consider these letters in the records. On Friday, a bench comprising NCLT judicial members Rajiv Bharadwaj and technical member Sanjay Puri took up the inquiry. Jagan's counsel submitted letters as annexures to the petition and requested them to be taken on record.

Responding to this, the bench stated that the notices were not issued as there was no loss to the respondents Sharmila, Vijayamma etc. Taking the letters on record, the hearing was adjourned.