In a rather ugly turn of events, the family fight between Jagan and his mother and sister is increasing by the day.
The latest is YS Vijayamma’s accusations on Jagan and his wife Bharati. She said YS Sharmila was being dragged into the matter unnecessarily. Vijayamma said that Jagan and Bharati were misleading the Tribunal before the National Company Law Tribunal’s Hyderabad Bench.
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She clarified that Sharmila had nothing to do with Saraswati Power Corporation Limited or the gift deed and added that her son Jagan and daughter-in-law Bharati were dragging her into the issue, she said.
Vijayamma said she ended up in court due to property issues between Jagan and Sharmila, which was a matter of angst she went on to say.
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Vijayamma maintained that she owned all the shares in Saraswati Power and claiming that the gift deed was made on her name keeping Sharmila’s interests in mind, was a sham.
She further alleged that she owned 99.75% shares in Saraswati Power while Jagan and Bharati had done. She also said the petitions filed by Jagan, Bharati and Classic Realty are not valid. Vijayamma said that they must be struck down with a huge fine.
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She said Section 59 which was applicable for corporate, stakeholders’ legal rights should not be misused. On July 26, 2021, Jagan and Bharati gave two gift deeds to her she said. Based on this, 74.26 lakh shares that belonged to Jagan and 40.50 lakh shares of Bharati were transferred to her, Vijayamma stated. She said she also provided the folio numbers.
She said she was now part of Saraswati Power and such a petition was legally wrong. As they transferred their shares to her name, Jagan and Bharati had no right to file a petition in the Tribunal she said.
Vijayamma raised quite a few points regarding corporate law, all of which said that Jagan and Bharati were at wrong. She maintained that their petition in the Tribunal must be struck down after imposing a huge fine.
