Jailed conman Sukesh Chandrasekhar wants to buy KJo's Dharma Productions
What's the story
Infamous conman Sukesh Chandrasekhar has apparently written a letter to filmmaker Karan Johar, offering to buy a major stake in Dharma Productions.
Despite being behind bars and facing several legal battles, Chandrasekhar has expressed interest in becoming a major part of Johar's production house.
The letter starts with the line: "This is a letter of intent, in regards to acquiring a major portion of stake in your company, Dharma Productions."
Investment proposal
Chandrasekhar's company LS Holdings proposed as potential investor
As per a report by Times Now, in the letter, Chandrasekhar also acknowledged that Dharma Productions is reportedly looking for investment opportunities. He offered his company, LS Holdings, as a potential investor.
The company is registered in the British Virgin Islands and claims an annual turnover of ₹6,300 crore.
LS Holdings works in several sectors including online gaming and international corporate liaison.
Emotional connection
Chandrasekhar's passion for films and admiration for Johar
Chandrasekhar also emphasized LS Holdings has a film production subsidiary, LS Film Corp, which has financed over 70 Indian films.
He wrote, "For me, movies is not a business, rather, a passion and an emotion."
The conman views Dharma Productions as a way to expand his business and cash in on Johar's influential industry connections.
He called Johar a "wonderful human" in the letter.
Deal details
'No-negotiation' deal and swift transaction proposed by Chandrasekhar
Chandrasekhar offered Johar a "no-negotiation" deal for a 50-70% stake in Dharma Productions, promising the deal could be sealed in 48 hours.
The letter ends with a bizarre appeal where Chandrasekhar admitted his offer was odd.
"I am sure for you this offer is very strange, as it's being offered from the walls of Asia's largest prison, but Karan, best and wonderful things happen from extraordinary situations, places, and persons."
Investment
Meanwhile, Adar Poonawalla acquired half of KJo's Dharma Productions
To note, Chandrasekhar's letter comes amid a major development: Adar Poonawalla, the CEO of Serum Institute of India, will be buying a 50% stake in Dharma Productions and Dharmatic Entertainment.
The deal, worth ₹1,000 crore, values KJo's film and television production and distribution company at ₹2,000 crore. This move is part of the ongoing consolidation trend within the entertainment industry.