In a development that has left both Bollywood and business circles in shock, alleged conman Sukesh Chandrashekar, currently in Tihar Jail on charges of extortion, has made an audacious offer to buy a significant stake in one of India's most prestigious film production houses, Karan Johar's Dharma Productions. In his revised offer to Karan Johar, submitted through the legal firm Anantam Legal, Sukesh said it has been brought to his notice that you (Karan Johar) have finalised the sale of a 50 per cent stake for Rs 1000 Crore at a company valuation of Rs 2000 Crore.

"I am valuing Dharma at a 3,000 Crore valuation. Hereby, I am willing to acquire a 50 per cent stake at 1,500 Crore, all cash deal, this very day. As I mentioned before in my first offer letter to you, I did not want to put a number as movies are a passion and Dharma comes a legacy, and that is prime to me, and not the value," the letter states.

Sukesh said if the 50 per cent stake is not possible, Dharma could consider offloading a 20 per cent stake. " I am offering Rs. 600 Crore for the 20 per cent stake, at a valuation of 3000 Crores of your company. If the above mentioned offer is accepted or even under considerations, as of today we could Escrow the amount in full for you to understand our seriousness for this deal.  If you consider our offer, the structure of your organisation will remain exactly the same, the way you want it to be, there would not be any riders, as we only want to associate and have no interest in the way the company operates, nor we want to appoint any person from our side in the company," the letter, shared by Sukesh's legal team, states.

"Kindly consider this offer of ours by either offloading the 50 per cent or at least the 20 per cent stake at a valuation, which is way above than anything offered to you. Once again to remind, all our Financials, legality could be produced for your full satisfaction and Due Diligence".

This is the second time that Sukesh has sent a 'letter of Intent', to Dharma Productions.  The bid, which Chandrashekar claims is motivated by his admiration for Jacqueline Fernandez, has sparked widespread curiosity, scepticism, and controversy across the country.While Sukesh's reputation is mired in controversy and legal issues, his letter portrays a deep-seated passion for films.

In his earlier offer, Sukesh has expressed his desire to acquire a controlling stake, between 50-70%, in Dharma Productions. Sukesh emphasised that the deal was non-negotiable and could be finalised within 48 hours if Karan Johar agreed to the terms.

"This is a letter of intent regarding acquiring a major portion of the stake in your company, Dharma Productions," the letter states. According to the letter, the offer is backed by Suksh' s financial advisor, who reportedly informed him that Dharma Productions was seeking investments. Sukesh's company, LS Holdings, is said to be interested in supporting Dharma's expansion plans.

Adar Poonawalla led Serene Production recently acquired 50 per cent stake in Karan Johar's Dharma Productions and Dharmatic Entertainment, for Rs 1,000 crore, the company said in a press release. Earlier, it was reported Saregama would be doing the same but the reports were refuted.

Earlier, on Diwali, Sukesh sent a letter to Bollywood actress Jacqueline Fernandes expressing his love and wrote, "Baby you know I would do everything to make you feel special, irrespective of what the situation is, I hope when you Read this letter and See your Cute missing to see. I love you like Crazzy my Baby Boo. Thank you for loving me and giving me the strength. I can feel every Second around me. Missing you my Baby Can't Wait, Love you My Bomma."

He also revealed that he has named a star after Jacqueline and even praised her Cannes 2024 look. "My Baby Girl, Jacqueline, Baby firstly I have been missing you, Super Crazzy, falling in love with you Crazier. Baby you Stole the Show in Cannes, your look in Gold, was Jazzy and Super Classy Too Pretty to handle my love. Through your other photoshoot pictures, you stole My heart over Again, my CupCake," he wrote.