2 hrs ago
Zee Founder Subhash Chandra Faces CBI Probe Over Loan Allegations
Subhash Chandra, who founded Zee, is being investigated by the CBI.
The investigation involves loans from LIC Housing Finance.
The loans together are linked to an alleged amount of ₹1,322 crore.
Investigators say certificates may have shown an incorrect net worth for Chandra.
These certificates were allegedly used to obtain two loan facilities.
The loans were secured in 2018.
The CBI has registered a formal case called an FIR.
The report describes allegations, not a final court finding.
The Central Bureau of Investigation has registered an FIR involving Zee founder Subhash Chandra.
The case concerns an alleged ₹1,322 crore loan fraud involving LIC Housing Finance.
The allegations relate to two loan facilities secured in 2018.
Chandra’s net worth was allegedly misrepresented in certificates submitted for the loans.
The report describes the matter as a probe; the allegations have not been established in court.
- Who
- The CBI, Zee founder Subhash Chandra, and LIC Housing Finance are involved.
- What
- The CBI has registered an FIR over an alleged ₹1,322 crore loan fraud and allegedly false net-worth certificates.
- Where
- The matter involves LIC Housing Finance; no geographic location is specified.
- When
- The two loan facilities were secured in 2018; the report does not specify when the FIR was registered.
- Why
- The probe concerns allegations that Chandra’s net worth was misrepresented in certificates used to secure the loans.
Key facts
- Person involved
- Subhash Chandra, founder of Zee
- Investigating agency
- CBI
- Lender involved
- LIC Housing Finance
- Alleged amount
- ₹1,322 crore
- Loan facilities
- Two
- Relevant year
- 2018
- Case status
- An FIR has been registered and the allegations are under investigation
Sources
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