\u20b9500-crore loan facility<\/a><\/strong> to Vasant Sagar Properties Pvt Ltd and Pan India Infraprojects Pvt Ltd in March 2018.<\/p>\n\n\n\nA second facility of \u20b9480 crore<\/strong> was sanctioned in August 2018 to Digital Subscriber Management and Consultancy Services Pvt Ltd and Spirit Infrapower and Multiventures Pvt Ltd.<\/p>\n\n\n\nBoth facilities were reportedly backed by personal guarantees associated with Chandra.<\/p>\n\n\n\n
The CBI is investigating the circumstances surrounding the sanction and disbursement of the loans, as well as their subsequent defaults.<\/p>\n\n\n\n
Alleged Inflated Net-Worth Certificates<\/strong><\/p>\n\n\n\nA central allegation concerns the net-worth certificates submitted in connection with the loans.<\/p>\n\n\n\n
LICHFL has alleged that one certificate represented Chandra’s net worth at approximately \u20b959,113 crore<\/strong>, while another put it at around \u20b940,562 crore<\/strong>.<\/p>\n\n\n\nThe lender claims these figures were inflated and were used to persuade it to sanction the loans.<\/p>\n\n\n\n
During subsequent insolvency proceedings, Chandra reportedly disputed the wealth figures reflected in the certificates. The CBI will now examine the documents and the circumstances under which they were submitted.<\/p>\n\n\n\n
Loan Accounts Later Defaulted<\/strong><\/p>\n\n\n\nThe two facilities eventually became non-performing, according to the complaint.<\/p>\n\n\n\n
The lender has stated that the outstanding amount on the Vasant Sagar facility had reached around \u20b9570.50 crore<\/strong>, while the Digital Subscriber facility had an outstanding amount of approximately \u20b9507.25 crore<\/strong>.<\/p>\n\n\n\nWith interest and other charges included, LICHFL has alleged that its total wrongful loss exceeded \u20b91,322 crore.<\/p>\n\n\n\n
The CBI is also investigating allegations that loan funds were misappropriated or diverted and that assets were subsequently dealt with in ways that could have affected recovery.<\/p>\n\n\n\n
Who Else Has Been Named?<\/strong><\/p>\n\n\n\nThe FIR names several companies and their directors in addition to Subhash Chandra.<\/p>\n\n\n\n
The entities include Vasant Sagar Properties, Pan India Infraprojects, Digital Subscriber Management and Consultancy Services, and Spirit Infrapower and Multiventures<\/strong>.<\/p>\n\n\n\nCompany directors and other unidentified persons or public servants have also been included in the investigation.<\/p>\n\n\n\n
The case invokes allegations including criminal conspiracy, cheating and criminal breach of trust<\/strong>, among other provisions.<\/p>\n\n\n\nInvestigation Has Just Begun<\/strong><\/p>\n\n\n\nThe registration of an FIR marks the beginning of a criminal investigation and does not establish guilt.<\/p>\n\n\n\n
The CBI will now investigate the loan approvals, the documents submitted to LICHFL, the movement and use of the funds and the subsequent defaults.<\/p>\n\n\n\n
The allegations against Chandra and the other accused remain to be established before a court.<\/p>\n\n\n\n
Summary<\/h3>\n\n\n\n
The CBI has registered an FIR against Subhash Chandra and others over alleged irregularities involving \u20b9980 crore in LIC Housing Finance loans<\/strong>, which the lender says resulted in a loss of more than \u20b91,322 crore after defaults, interest and charges. The investigation focuses on allegedly inflated net-worth certificates, loan disbursements and the subsequent use of funds. The allegations have not yet been proven in court.<\/p>\n\n\n\nImage Source<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"The Central Bureau of Investigation (CBI) has registered an FIR against Essel Group chairman Subhash Chandra and others over alleged irregularities involving loans sanctioned by LIC Housing Finance Ltd (LICHFL), with the lender claiming a wrongful loss of more than \u20b91,322 crore. The case centres on two loan facilities sanctioned in 2018 that subsequently went […]<\/p>\n","protected":false},"author":30,"featured_media":1313623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[181,10528,916],"class_list":["post-1313615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-lic","tag-subhash-chandra","tag-zee"],"acf":[],"yoast_head":"\n
Zee Owner Subhash Chandra Booked In Rs 1,322 Crore LIC Housing Finance Scam By CBI - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/zee-owner-subhash-chandra-booked-in-rs-1322-crore-lic-housing-finance-scam-by-cbi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zee Owner Subhash Chandra Booked In Rs 1,322 Crore LIC Housing Finance Scam By CBI - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"The Central Bureau of Investigation (CBI) has registered an FIR against Essel Group chairman Subhash Chandra and others over alleged irregularities involving loans sanctioned by LIC Housing Finance Ltd (LICHFL), with the lender claiming a wrongful loss of more than \u20b91,322 crore. The case centres on two loan facilities sanctioned in 2018 that subsequently went […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/zee-owner-subhash-chandra-booked-in-rs-1322-crore-lic-housing-finance-scam-by-cbi\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-07T04:21:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-09-07T04:21:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-07-at-9.50.38-AM.png\" \/>\n\t<meta property=\"og:image:width\" content=\"886\" \/>\n\t<meta property=\"og:image:height\" content=\"874\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mohul Ghosh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohul Ghosh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/zee-owner-subhash-chandra-booked-in-rs-1322-crore-lic-housing-finance-scam-by-cbi\/\",\"url\":\"https:\/\/trak.in\/stories\/zee-owner-subhash-chandra-booked-in-rs-1322-crore-lic-housing-finance-scam-by-cbi\/\",\"name\":\"Zee Owner Subhash Chandra Booked In Rs 1,322 Crore LIC Housing Finance Scam By CBI - 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