Archive · 5 Sep 2026
CBI Probes Subhash Chandra Over ₹980-Crore LICHFL Loans
The CBI has opened a criminal investigation involving Subhash Chandra and several companies.
It says documents showed that Chandra was worth tens of thousands of crores of rupees.
These documents were used when two companies applied for large loans from LICHFL.
The loans together were worth ₹980 crore.
Both loans later stopped being repaid.
LICHFL says its claim connected with the loans was more than ₹1,322 crore.
During later insolvency proceedings, Chandra gave much lower figures for his wealth.
The CBI will investigate whether the documents were false and whether the money was misused, but a court has not yet decided whether anyone is guilty.
The CBI registered an FIR against Subhash Chandra and others over alleged inflation of his net worth to secure loans from LICHFL.
The two facilities totaled ₹980 crore: ₹500 crore for Vasant Sagar Properties and ₹480 crore for Digital Subscriber Management and Consultancy Services.
Both loans later defaulted, while LICHFL reported a claim or alleged loss exceeding ₹1,322 crore, including an admitted claim of ₹1,322.39 crore in insolvency proceedings.
Net-worth certificates submitted in 2018 valued Chandra’s wealth at approximately ₹59,000 crore and ₹40,562 crore.
The FIR alleges collusion, false documents, cheating, breach of trust and fund misappropriation; the allegations have not been established by a court, and Chandra had not immediately responded.
- Who
- The CBI named Subhash Chandra, borrower and co-borrower companies, and their officers and directors in the case; LICHFL filed the complaint.
- What
- The FIR alleges that inflated net-worth certificates and related documents were used to obtain two LICHFL facilities totaling ₹980 crore, which later defaulted.
- When
- The guarantees and net-worth certificates date mainly from March and July 2018; the FIR was reported on September 5, 2026.
- Where
- The complaint was filed at CBI headquarters in New Delhi, involving loans issued by Life Insurance Corporation Housing Finance Limited.
- Why
- LICHFL alleges that false financial information and collusion induced it to approve and disburse the loans, which were later allegedly misappropriated.
LICHFL and CBI allegations
Chandra’s reported position and legal status
Accuracy of net worth
LICHFL and CBI allegations
LICHFL and the CBI allege that certificates submitted for the loans overstated Chandra’s net worth at approximately ₹59,000 crore and ₹40,562 crore.
Chandra’s reported position and legal status
According to the FIR, Chandra later disputed the figures in the certificates and stated that his 2017-18 net worth was no more than ₹40,000 crore; the reports do not provide a fuller response from him.
Loan approvals and fund use
LICHFL and CBI allegations
The FIR alleges that Chandra acted in collusion with borrower companies and their officials, created false documents, and induced LICHFL to advance the funds, which were allegedly misappropriated.
Chandra’s reported position and legal status
The reports say the allegations are under CBI investigation and have not been established by a court; there was no immediate reaction from Chandra.
Amount owed
LICHFL and CBI allegations
LICHFL reported a claim or alleged loss exceeding ₹1,322 crore after the ₹980 crore facilities defaulted.
Chandra’s reported position and legal status
The reports explain that the larger figure may include interest and other amounts due under the loan agreements, while LICHFL retains rights over secured assets.
- Investigating agency
- Central Bureau of Investigation
- Accused named
- Subhash Chandra and others
- Lender
- Life Insurance Corporation Housing Finance Limited (LICHFL)
- Total loan facilities
- ₹980 crore
- Loan breakdown
- ₹500 crore to Vasant Sagar Properties and ₹480 crore to Digital Subscriber Management and Consultancy Services
- Net-worth certificates
- Approximately ₹59,000 crore and ₹40,562 crore, issued on March 28 and July 6, 2018
- Later net-worth figures
- ₹31.79 crore for 2024 and no more than ₹40,000 crore for 2017-18, according to the FIR
- LICHFL claim or alleged loss
- More than ₹1,322 crore; an admitted claim of ₹1,322.39 crore was reported in insolvency proceedings
Sources
Subhash Chandra’s troubles mount: CBI files FIR alleging net worth ‘inflation’ to secure ₹980 cr loan from LICHFL
CBI FIR against Subhash Chandra for ‘inflation’ of net worth to secure nearly Rs 1,000-cr in loans
CBI Case Against Subhash Chandra Over Rs 980-Crore Loans: Net Worth At Nub Of Probe
CBI registers FIR against Subhash Chandra over alleged LICHFL loan fraud
CBI Files FIR Against Subhash Chandra in Rs 1,000-Cr Loan Fraud Case
