Conman Sukesh Chandrashekar, currently incarcerated in Tihar Jail for his involvement in a multi-crore fraud, has made an unexpected move by offering to declare his overseas income and pay ₹7640 crore in taxes. In a letter to Union Finance Minister Nirmala Sitharaman, Chandrashekar expressed his intention to disclose his earnings for the financial year 2024-2025 under the relevant tax scheme issued by the Government of India.
Chandrashekar, who has been linked to several high-profile fraud cases, revealed that his overseas business operations are based in the United States and the British Virgin Islands. His companies, LS Holdings International and Speed Gaming Corporation, which are involved in online and offline gaming and betting, have been active since 2016. According to reports, these businesses generated a turnover of $2.70 billion in 2024 alone.
In his letter, Chandrashekar also mentioned the international reach of his businesses, with operations extending to the United States, Spain, the UK, Dubai, and Hong Kong. He made it clear that he is willing to settle all pending income tax proceedings and appeals in India.
A ‘Proud’ Indian?
Chandrashekar’s letter to Sitharaman also included a surprising declaration of admiration for Prime Minister Narendra Modi. He claimed to be a proud Indian and expressed his desire to contribute to the country’s development by paying taxes on his overseas income and investing in India.
“As of today, being a proud Indian, under the great leadership of our Prime Minister Modi Ji, I want to contribute my part towards the world-class development of this great nation. Henceforth, by willingly paying Indian taxes on my overseas income, and further investing my overseas income here in India,” he wrote.
Defending His Earnings
In his letter, Chandrashekar clarified that he is an undertrial and has not been convicted of any crime. He emphasized that his income, including earnings from his overseas businesses, is legitimate. He also pointed out that the Indian tax department has already initiated proceedings regarding his domestic income.
“I am currently facing multiple cases, financial in nature, here in India, and am in judicial custody. It’s important to mention that I am an undertrial and have not been convicted for any case. It would be wrong to say that any of my income is illegal. Your department has already initiated tax recovery proceedings on my Indian income, proving my earnings are legitimate,” he added.
Chandrashekar’s unexpected offer has raised eyebrows, leaving many to question the motivations behind such a move, given his controversial criminal history. His willingness to pay such a substantial tax amount will likely spark further discussions on the intersection of law, business, and accountability in India.
