The Hyderabad bench of the National Company Law Tribunal (NCLT) has ruled in favor of former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy, who contested the transfer of shares in Saraswati Power and Industries.
The shares, originally held by Reddy and his wife Bharathi, were controversially transferred to his sister YS Sharmila and his mother, prompting Reddy’s petition to restore ownership.
Jagan, his wife Bharathi, and his mother Vijayamma cumulatively hold significant shares in the company. The dispute reflects deeper familial rifts, as Sharmila now leads the Andhra Pradesh Congress unit. An appeal from the opposing side is anticipated.
