Hyderabad: Conman Sukesh Chandrashekhar, currently imprisoned in New Delhi's Tihar Jail for an extortion case, has made an audacious offer to purchase a 50-70% stake in Karan Johar's production company, Dharma Productions. Founded in 1976 by Yash Johar, Dharma Productions is one of Bollywood's most iconic film studios, known for blockbuster hits like Kuch Kuch Hota Hai, Kabhi Khushi Kabhie Gham, and Raazi.
Despite his imprisonment, Sukesh sent a 'Letter of Intent' through Anantam Legal, a law firm, expressing his desire to gain control of the renowned production house.
In his letter, Chandrashekhar laid out his intent, calling it a "no-negotiation" offer, and proposed that the transaction could be completed within 48 hours if the terms were accepted. "This is a letter of intent regarding acquiring a major portion of stake in your company, Dharma Productions," read the letter, which was shared publicly by Sukesh's PR team.
Chandrashekhar claimed that his financial advisor had informed him that Dharma Productions was seeking investment. He proposed that his company, LS Holdings, would invest in the company to support its future growth. He acknowledged that his reputation might raise eyebrows but asserted that his offer came from a genuine place.
"I am sure this offer may seem unusual, coming from the walls of Asia's largest prison, but Karan, the best and wonderful things happen from extraordinary situations, places, and persons," Sukesh wrote, emphasising his passion for cinema. The letter also contained praise for Karan Johar, describing him as a "wonderful human."
Sukesh made a personal reference to Bollywood actor Jacqueline Fernandez, calling her the "love of his life" and highlighting the respect she holds for Johar. "Me, my family, and most importantly, the Love of My Life, Jacqueline, have huge respect towards you, which you very well know. So, it's a privilege and an honour to acquire a stake in your company and become a part of your family," the letter stated.
Meanwhile, in a similar development, Adar Poonawalla, CEO of the Serum Institute of India, is also set to acquire a 50% stake in Dharma Productions for Rs 1000 crore. Poonawalla, through Serene Productions, will be making this investment privately, while Karan Johar will continue as the Executive Chairman of the company, retaining the remaining stake.
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