Conman Sukesh declares overseas income, offers to pay ₹7,640cr taxes
What's the story
Conman Sukesh Chandrasekhar, arrested in 2015 for his involvement in a multi-crore fraud case, has reportedly declared an overseas income of ₹22,410 crore for the year 2024.
In a letter to Union Finance Minister Nirmala Sitharaman, he requested that this income be included under the relevant government tax scheme.
He is reportedly ready to pay a whopping ₹7,640 crore as taxes on his overseas income for 2024.
Business details
Chandrasekhar's overseas businesses and operations
Chandrasekhar informed Sitharaman in the letter about his foreign businesses, LS Holdings International and Speed Gaming Corporation.
Registered in Nevada and the British Virgin Islands, respectively, these companies are engaged in online and offline gaming and betting.
He claimed these ventures have been running since 2016, generating a whopping turnover of $2.7 billion in 2024 alone.
His business is active in the US, Spain, the UK, Dubai, and Hong Kong.
Tax commitment
Chandrasekhar's pledge to contribute to India's development
In his letter, Chandrasekhar praised Prime Minister Narendra Modi and said he wanted to contribute to India's development by paying taxes on his overseas income.
"As of today, being a proud Indian, under the great leadership of our Prime Minister Modi Ji, I want to contribute my part toward the world-class development of this great nation," he wrote.
He also said he was willing to settle all pending income tax recovery proceedings.
Legal matters
Chandrasekhar's legal status and income legitimacy
Chandrasekhar clarified in his letter that he is an undertrial and hasn't been convicted, asserting that his income, including overseas earnings, is legit.
"I am currently facing multiple cases financial in nature, here in India, and am in judicial custody...it would be wrong to say that any of my income is illegal," he said.
He added that the tax department had initiated proceedings on his Indian income, which he believes validates the legitimacy of his earnings.
Legal troubles
Chandrasekhar's ongoing legal battles
Meanwhile, despite his claims, the conman continues to be the prime accused in a ₹200 crore money laundering case being probed by the Enforcement Directorate (ED).
The ED case relates to allegations of him duping the spouses of former Ranbaxy promoters, Shivinder Singh and Malvinder Singh, of ₹200 crore.
He also faces other charges from Delhi Police's Economic Offence Wing and several other agencies.