YS Sharmila Reddy, daughter of former Andhra Pradesh Chief Minister YS Rajasekhara Reddy, has released a detailed open letter addressing YS Rajasekhara Reddy supporters about an ongoing family dispute with her brother and current AP Chief Minister YS Jagan Mohan Reddy. The letter provides an extensive account of property distribution issues and family dynamics following YS Rajasekhara Reddy’s death.
YSR’s Vision for Asset Distribution
The letter reveals that YS Rajasekhara Reddy had clear intentions regarding the family’s wealth distribution. According to Sharmila, her father wanted all family businesses to be shared equally among his four grandchildren. This vision was documented by their mother, YS Vijayamma, in a book where she specifically mentioned that YS Rajasekhara Reddy considered his daughter Sharmila’s importance equal to everything else in the world. The letter emphasizes that YS Jagan Mohan Reddy was meant to be a guardian of these assets rather than their sole successor.
Major Business Assets in Question
The dispute centers around several significant family businesses and properties. These include stakes in Saraswati Enterprises, Bharati Cements, Sakshi Media, Classic Reality, and Yelahanka Properties. Sharmila claims that none of these assets have been transferred to her despite previous agreements and their father’s wishes.
2019 MOU and Asset Distribution Plan
A crucial turning point came in 2019 with the creation of a Memorandum of Understanding. The agreement proposed giving Sharmila a 40% share in Sakshi Media, 40% of the family’s 49% share in Bharati Cements, complete ownership of Saraswati Power, and the Yelahanka property. However, according to the letter, these transfers never materialized.
Financial Claims and Counter-Claims
The letter addresses complex financial matters, including a disputed Rs 200 crore transaction spread over ten years. Sharmila argues this amount represents merely dividends from her rightful share rather than a gift or favor. She also mentions property valuations, including land worth Rs 32 crore, and alleges unfair distribution practices.
The dispute gained significant political dimensions when Sharmila entered politics, first in Telangana and later in Andhra Pradesh. She describes facing personal attacks and political opposition, particularly after switching to Andhra Pradesh politics. The situation reportedly intensified after Jagan became Chief Minister in 2019.
Legal Proceedings
The conflict has now reached the National Company Law Tribunal (NCLT), with cases filed regarding share transfers and property rights. The letter mentions allegations about bail revocation attempts and disputes over property attachments by the Enforcement Directorate.
Family Dynamics and Relationships
The letter paints a picture of severely strained YS Rajasekhara Reddy family relationships. It describes the emotional toll on their mother YS Vijayamma and the damage to YS Rajasekhara Reddy family reputation. Multiple attempts at reconciliation through relatives and mediators have reportedly failed.
As of now, the dispute remains unresolved with ongoing legal battles and continued family tension. The letter indicates significant impacts on both personal relationships and political dynamics in Andhra Pradesh.
Appeal to YSR Supporters
Sharmila concludes her letter with a heartfelt appeal to YS Rajasekhara Reddy supporters, asking them to understand the truth behind the family dispute. She emphasizes her commitment to family honor while defending her right to the promised asset distribution.
-Sanyogita
