Political rivalry & now an NCLT plea over ‘illegal share transfer’. YSR siblings’ bitter feud baffles AP
Vijayamma is the widow of united Andhra Pradesh’s former chief minister Y.S. Rajasekhara Reddy, who had died in a chopper crash in the first year of his second term in 2009.In the petition, Jagan has sought nullification of the transfer of shares of Saraswati Power, claiming that the transfer was in contravention of a Memorandum of Understanding that he had entered into with Sharmila in August 2019 and the gift deed executed in favour of his mother in 2021. The shares in question are 74,26,294 equity shares of Rs 10 each in Jagan’s name (constituting 29.88 percent paid-up share capital of Saraswati Power), 40,50,000 equity shares of Rs 10 each in Bharathi’s name (16.3 percent), and 12,00,000 equity shares of Rs 10 each owned by Bengaluru-based firm Classic Realty Private Limited (4.83 perc...
