Andhra Pradesh Congress Committee (APCC) Chief YS Sharmila has criticized the claims made by YSR Congress Party (YSRCP) leaders regarding a supposed conspiracy to cancel the bail of former Chief Minister Jaganmohan Reddy, labeling it as “the biggest joke of the century.” Speaking to the media on Wednesday, Sharmila clarified that the Enforcement Directorate (ED) has only attached immovable property worth Rs. 32 crore, not shares, emphasizing that there are no restrictions on the transfer of shares.
“The status quo does not apply to shares, and in the past, the ED has attached assets without halting their trading or transfers in the stock market,” she stated. Sharmila questioned whether Jagan was unaware that his bail could be at risk after signing a Memorandum of Understanding (MOU) to transfer 100 percent of the shares to her in 2019. She highlighted that in 2021, Classic Reality, owned by Sandur Power, sold shares to YS Vijayamma for Rs. 42 crore, raising concerns about the legality of such transactions under the claimed status quo.
Moreover, Sharmila pointed out that both Jagan and Bharti Reddy had signed and provided Vijayamma with a written gift deed concerning the shares, arguing that this demonstrated their understanding of the distinction between share transfers and the potential cancellation of bail. Referring to ongoing legal proceedings, Sharmila remarked, “Vijayamma is aware that there are no issues regarding her son’s bail. If she is claiming otherwise, she must clarify her stance on the letter she supposedly wrote.” Sharmila accused YSRCP of engaging in political theatrics, asserting that the focus should remain on the ongoing case in the National Company Law Tribunal (NCLT) regarding the shares, which is currently sub judice.