Economy
CBI Books Subhash Chandra Over ₹1,322 Crore LIC Housing Loan Fraud
Moneycontrol1h
THE BRIEF
1
The CBI registered a case against Essel Group Chairman Subhash Chandra on September 5, 2026, for an alleged ₹1,322 crore fraud involving LIC Housing Finance.
2
Investigators claim the loans were secured using inflated net worth statements, resulting in a massive financial loss to the state-backed housing lender.
3
The agency is currently raiding multiple locations linked to the group to recover documents related to the loan disbursement process and the alleged diversion of funds.