CBI books Subhash Chandra, others in Rs 1,322 crore LIC Housing fraud case
The Central Bureau of Investigation (CBI) has registered an FIR against media baron and Essel Group founder Subhash Chandra for allegedly submitting inflated net-worth certificates to secure two loans aggregating Rs 980 crore from LIC Housing Finance Ltd (LICHFL).
The case stems from a complaint by LICHFL, which has alleged that net-worth certificates submitted when the loans were sanctioned showed Chandra to be considerably wealthier than what he later disclosed during insolvency proceedings.
