Archive · 30 Jul 2025
NCLT: Saraswati Power Share Transfer Never Completed
YS Jagan Mohan Reddy had planned to give his shares in Saraswati Power to his sister and mother, but the transfer never went through.
The NCLT agreed with Jagan and said the share transfer was never finalized because the original share certificates weren't given.
The court has ordered the company to put Jagan, his wife, and mother back as the shareholders.
NCLT ruled the share transfer in Saraswati Power was never completed.
Jagan Mohan Reddy filed a petition to cancel the share transfer to his sister and mother.
The NCLT ordered Saraswati Power to reinstate Jagan, Bharati, and Vijayamma as shareholders.
Jagan and his wife had agreed to gift shares to Sharmila and Vijayamma.
The transfer was not completed due to the lack of original share certificates.
- Who
- YS Jagan Mohan Reddy, Sharmila, Vijayamma
- What
- NCLT ruled share transfer in Saraswati Power was never completed.
- When
- Tuesday
- Where
- Hyderabad bench of NCLT
- Why
- The share transfer was never finalized because the original share certificates weren't given.
Jagan's Perspective
Sharmila's Perspective
Share Transfer
Jagan's Perspective
Transfer never consummated
Sharmila's Perspective
Attempted share transfer
- Parties Involved
- YS Jagan Mohan Reddy, Bharati, Vijayamma, Sharmila
- Legal Body
- NCLT Hyderabad Bench
- Company Involved
- Saraswati Power and Industries Pvt Ltd
- Action
- Petition to cancel share transfer
- Jagan's Shareholding
- 29.88%
- Vijayamma's Shareholding
- 48.99%
- Sharmila's Shareholding
- 16.30%
Sources
NCLT allows ex-Andhra CM Jagan to cancel transfer of Saraswati Power shares to sister, mother
NCLT allows Jagan’s plea to cancel transfer of Saraswati Power shares to sister, mother
NCLT Allows Jagan to Cancel Transfer of Saraswati Power Shares to Sharmila, Vijayamma