APCC President YS Sharmila has strongly rejected allegations of conspiracy regarding YS Jagan Mohan Reddy’s bail cancellation, calling such claims “the joke of the century.” In a recent statement, she clarified several key points about the ED attachment case and share transfers within their family business.

The Enforcement Directorate (ED) has only attached company fixed assets worth ₹32 crore, not any shares, Sharmila emphasized. She further clarified that no restrictions exist on share transfers or trading, and these transactions are completely separate from bail conditions.

Sharmila highlighted several crucial dates and events in the ongoing situation. In 2016, ED attached certain properties, and by 2019, an MOU was signed for 100% share transfer. Later in 2021, shares worth ₹42 crore were sold to Vijayamma from Classic Reality and Sandoor Power.

“If share transfers could affect bail conditions, why did Jagan sign documents in 2021 transferring shares to Vijayamma, complete with folio numbers and gift deeds?” Sharmila questioned.

Addressing the recent controversy over YS Vijayamma’s public letter, Sharmila stated that if her mother hadn’t written the open letter, critics would have questioned its authenticity. She emphasized that Vijayamma understands there’s no connection between share transfers and bail cancellation.

Regarding business operations, Sharmila pointed out that while ED has attached assets of many companies in the past, this has never affected share trading, stock market operations, or transfer of ownership.

“This is purely political conspiracy” Sharmila concluded, noting that the matter of shares is currently before the NCLT and should be treated as sub-judice.

-Sanyogita