Sukesh Chandrasekhar Declares Over Rs 22K Crore Overseas Income, Offers To Pay Rs 7,640 Crore Tax

New Delhi: Businessman Sukesh Chandrasekhar awaiting trial for various charges, has written a letter to Finance Minister Nirmala Sitharaman requesting permission to declare his overseas income for the fiscal year 2024-25 under the appropriate scheme issued by the Centre.

Sukesh mentioned that his overseas businesses, LS Holdings International and Speed Gaming Corporation, registered in Nevada, USA, and the British Virgin Islands, respectively, have been operational since 2016, focusing on online and offline gaming and betting.

These businesses generated a turnover of $2.7 billion in 2024, with operations spanning the USA, Spain, UK, Dubai, and Hong Kong, he stated in the letter to the FM.

The letter also highlights ongoing income tax recovery proceedings and pending appeals in India, which Sukesh states he is willing to settle.

Sukesh expressed his willingness to pay Indian taxes on his overseas income for 2024, amounting to Rs 7,640 crores, and proposed to invest this income in India’s tech sector and advanced online skill gaming businesses.

Sukesh, the prime accused in the Rs 200 crore money laundering case being investigated by the Enforcement Directorate (ED), is also facing multiple other charges under investigation by the ED, Delhi Police’s Economic Offence Wing (EOW), and other agencies.

Sukesh and his wife, actor Leena Maria Paul, were arrested by the Delhi Police for their alleged involvement in the fraud case. During the investigation, Bollywood actors Jacqueline Fernandez, Nora Fatehi, and several other individuals were linked to the case by both the ED and EOW.