CBI registers Rs 1,322 crore fraud case against Subhash Chandra, Essel-linked firms
The Central Bureau of Investigation (CBI) has registered a criminal case against Essel Group founder Subhash Chandra and several entities linked to the group over an alleged Rs 1322 Crore fraud involving LIC Housing Finance Ltd (LICHFL), marking a major escalation in the legal troubles surrounding the businessman.
The FIR, registered on August 31 on the basis of a complaint by LICHFL, alleges criminal conspiracy, cheating, criminal breach of trust and criminal misconduct in connection with loans extended to companies associated with Chandra. The alleged loss, according to the complaint, stands at about Rs 1322 crore.
