Vijayamma Issues Clarification on Y.S. Family Assets Amid NCLT Dispute
The clarification comes at a time when the matter is under legal scrutiny before the NCLT.
VIJAYAWADA: Amid the ongoing dispute over family assets in the National Company Law Tribunal (NCLT), Y.S. Vijayalakshmi, wife of late chief minister Y.S. Rajasekhara Reddy, has issued a notarised clarification countering allegations made by YSR Congress leaders.
In a detailed note released to the media, Vijayalakshmi, popularly known as Vijayamma, asserted that no formal division of family assets has ever taken place. She clarified that all properties held by the family until 2009 have been treated as combined family assets. She maintained that even after YSR’s demise, these assets continue to remain undivided.
Taking strong exception to the ongoing claims, Vijayamma stated that allegations suggesting a completed settlement are “misleading and far from the truth.”
The clarification comes at a time when the matter is under legal scrutiny before the NCLT.
Vijayamma revealed that an MoU had been drafted only as a framework for future distribution. But it had neither been registered nor legally implemented. She emphasised that the understanding is based on mutual trust within family members, rather than enforceable legal arrangements.
In a more pointed remark, the spouse of YSR, charged that her son, Y.S. Jagan Mohan Reddy, had been unfair to his sister Y.S. Sharmila and her children in matters related to asset distribution.
Vijayamma maintained that YSR’s intention had been to divide the assets equally among his grandchildren, a fact well known within the family.
According to her, properties mentioned in the MoU in favour of Sharmila rightfully belong to her, even though those allocations are less than what she (Sharmila) deserves.
Vijayamma specifically cited assets, such as Saraswati Cement and land in Yelahanka, as belonging to Sharmila.
YSR’s spouse has clarified that the funds reportedly given to Sharmila are merely dividends, not a share of the actual assets. She expressed hope that justice will still be done declaring, “As a mother, I believe my son will do the right thing.”
Reaffirming her stand, Vijayamma, invoking God as a witness, said everything stated in the MoU is truthful and made in good faith.
