Jagan Files Petition Against Sister and Mother

In an escalating family conflict, Andhra Pradesh Ex Chief Minister YS Jagan Mohan Reddy and his wife YS Bharati have filed a petition with the National Company Law Tribunal (NCLT) against Jagan's sister YS Sharmila and their mother YS Vijayamma. The dispute revolves around the allocation of shares in Saraswati Power and Industries Private Limited.

The petition also includes several other respondents, such as Janardhana Reddy Chagari, Yaswanthreddy Kethireddy, and officials from the Registrar of Companies in Telangana and the Regional Director of the South East Region. Filed under Section 59 of the Companies Act, the case focuses on the rectification of the company's register of members, where Jagan claims shares were wrongly allocated or omitted.

Jagan and Bharati argue that they contributed significantly to the growth of Saraswati Power and that an MoU was signed in August 2019 to allocate shares to Sharmila. However, the deal was never finalized, leading to a fallout. The rift has worsened due to Sharmila's political opposition to Jagan in recent times.

The NCLT has issued notices to all parties involved, with the next hearing set for November 8, 2024. The outcome of this case could affect not only the future of Saraswati Power but also deepen the personal divide within the YS family.