Rajeev Chandrasekhar had founded BPL Mobile Communications in 1994 and in July 2005, he sold his 64 per cent stake in the company to Essar Group for $ 1.1 billion. BPL Communications was renamed to Loop Mobile in 2008. Immediately after the sale, Chandrasekhar began Jupiter Capital Private Limited.

According to Form 26 of the Election Commission rules, each candidate is required to declare assets and liabilities, including that of any spouse and dependent, their criminal background and educational qualifications. Furnishing of false information or concealing anything relevant in Affidavit 26 constitutes an electoral offence.

More recently in 2013, the Delhi High Court had said a false affidavit by a candidate at the time of filing of nomination papers is a ground for setting aside his/her election. The court had then also reacted sharply to minimum consequence of only six-month imprisonment or fine for erroneous information being filed.