CBI books Zee founder Subhash Chandra in alleged ₹1,322 crore fraud case
The CBI has booked Zee founder Subhash Chandra in an alleged ₹1,322 crore fraud involving LIC Housing Finance, with Chandra named accused No. 1.
The Central Bureau of Investigation (CBI) has filed charges against Zee founder Subhash Chandra, along with other individuals and companies, for an alleged fraud amounting to ₹1,322 crore involving LIC Housing Finance Limited (LICHFL). Chandra, designated as the primary accused, is accused of criminal conspiracy, cheating, and criminal breach of trust.
The investigation focuses on loan facilities issued by LICHFL for business expansion and rental securitisation, with Chandra providing guarantees for the borrowings. Allegations state that two specific loans, totaling ₹980 crore, were granted based on net worth certificates submitted by Chandra, which he later denied having. If found guilty, Chandra could face significant legal consequences.
Written by urgent.news from Hindustan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
