The Quint · Business · 2026-09-05
The Central Bureau of Investigation (CBI) has registered a First Information
The Central Bureau of Investigation (CBI) has registered a First Information Report (FIR) against Subhash Chandra, founder of Essel Group and Zee. The case concerns allegations of submitting inflated net worth certificates to secure two loans totaling Rs 980 crore from LIC Housing Finance Ltd. Both loan accounts subsequently defaulted, resulting in an alleged wrongful loss of over Rs 1,322 crore to the lender.
Why it matters. This case highlights regulatory scrutiny and financial accountability regarding large corporate loans secured using allegedly inflated net worth certificates from public financial institutions.
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