CBI books Zee founder Subhash Chandra in alleged ₹1,322 crore fraud case

The Central Bureau of Investigation (CBI) has registered a First Information Report (FIR) against Subhash Chandra, founder of Essel Group and Zee, along with several companies and their directors. The case concerns allegations of submitting inflated net worth certificates to secure two loans totaling Rs 980 crore from LIC Housing Finance Ltd (LICHFL). Both loan accounts subsequently defaulted, resulting in an alleged wrongful loss of over Rs 1,322 crore to the lender. The FIR was filed following a complaint by LICHFL, and the investigation is ongoing.