Details on the ₹1,322-crore fraud case involving Subhash Chandra
The Central Bureau of Investigation (CBI) has registered a formal case against Essel Group Chairman Subhash Chandra. He is accused of exaggerating his net worth to obtain loans, leading to an alleged fraud of ₹1,322 crore linked to LIC Housing Finance (LICHFL). Reports indicate that Chandra declared a net worth of ₹59,113 crore in 2018, which he later adjusted to ₹40,000 crore. However, during insolvency hearings in 2024, LICHFL stated that Chandra reported his net worth as only ₹31.79 crore.
by shortkt.com✓