New Delhi: The Central Bureau of Investigation (CBI) has registered an FIR against Essel Group chairman Subhash Chandra and three others in connection with an alleged Rs 1,322-crore fraud involving LIC Housing Finance Ltd (LICHFL), officials said on Saturday. According to the FIR, the case relates to two loans totalling Rs 980 crore sanctioned to […]

CBI has registered an FIR against media baron Subhash Chandra for inflating his net worth to avail loans from LIC Housing Finance Limited

CBI files FIR against Subhash Chandra and others for alleged ₹1,322 crore fraud against LIC Housing Finance.

The CBI case centres on certificates submitted in 2018 to obtain two credit facilities totalling Rs 980 crore. One certificate placed Chandra’s net worth at Rs 59,113 crore. However, during subsequent insolvency proceedings, he reportedly stated that his net worth in 2024 was just Rs 31.79 crore.

Complaint says certificates submitted by Subhash Chandra as guarantor for two loans claimed his assets ran into thousands of crores of rupees. That figure fell drastically later.

Complaint says certificates submitted by Subhash Chandra as guarantor for two loans claimed his assets ran into thousands of crores of rupees. That figure fell drastically later.