CBI books Subhash Chandra and others over alleged ₹1,322 crore loan loss
In short
The CBI has filed a case against Essel Group chairman Subhash Chandra and others over an alleged ₹1,322 crore loss at LIC Housing Finance.
The complaint says the loans were obtained through cheating, conspiracy and breach of trust, and one summary says investigators also suspect net worth was inflated. The reporting says an enforcement probe may follow, but it does not say what the accused have said.
What the reporting says
The CBI has registered an FIR against Essel Group chairman Subhash Chandra and others over alleged cheating, criminal conspiracy and criminal breach of trust tied to a ₹1,322 crore loan loss at LIC Housing Finance. BusinessLine says the complaint came from LICHFL on August 31, while an ET summary says investigators also allege net worth inflation to secure loans fraudulently. The immediate consequence is a police probe and a likely enforcement investigation; the reporting does not state the accused response.
Why it matters
The CBI has booked Subhash Chandra and others after a complaint from LIC Housing Finance dated August 31, according to the supplied summaries. The case concerns alleged cheating, criminal conspiracy, and criminal breach of trust linked to a reported ₹1,322 crore loan loss. One summary also says the Enforcement Directorate will investigate money laundering. The reporting does not state any court action or outcome yet.