Economy
CBI Books Subhash Chandra in ₹1,322 Crore LIC Housing Fraud
The Times of India1h
THE BRIEF
1
The Central Bureau of Investigation (CBI) filed an FIR against Subhash Chandra on September 6, 2026, regarding an alleged ₹1,322 crore fraud involving LIC Housing Finance.
2
Investigators allege that Chandra inflated his net worth to secure loans totaling ₹980 crore, which subsequently led to a massive financial default.
3
The probe focuses on the misuse of corporate financial statements to bypass lending norms, with the CBI conducting nationwide searches to recover evidence.