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BusinessQuiet 12d · day 12

ED registers money laundering case against Subhash Chandra over ₹1,322 crore loan fraud

Media baron accused of inflating net worth to secure loans from LIC Housing Finance, then defaulting.

newest coverage 11d agosummary written 11d ago12 pieces NewswiresGoogle News

What to know

  • ED registered money laundering case against media baron Subhash Chandra on November 2, 2026, based on CBI FIR filed by LICHFL.
  • Chandra allegedly used inflated net-worth certificates (₹59,000 crore and ₹40,562 crore) to secure ₹980 crore in loans, then defaulted, causing ₹1,322 crore loss to LICHFL.
  • During insolvency proceedings, Chandra claimed his actual net worth was ₹31.79 crore in 2024 and no more than ₹40,000 crore in 2017-18, contradicting the certificates.
  • LICHFL opposes an NCLT repayment plan that would recover only ₹6.5 crore from Chandra's personal estate against claims totalling ₹22,006 crore.

“Subhash Chandra had thus, acting in collusion with the borrowers, Vasant Sagar Properties Pvt Ltd, Pan India Infraprojects Pvt Ltd, Digital Subscriber Management and Consultancy Services Pvt. Ltd, and Spirit Infrapower and Multiventures Pvt Ltd and their officers and directors, defrauded an…”

CBI FIR · The Hindu ↗

Subhash ChandraSubhash Chandra Media baronLife Insurance Corporation Housing Finance Limited (LICHFL) LenderCentral Bureau of Investigation (CBI) Law enforcement agencyEnforcement Directorate (ED) Financial crime regulator

ED registers money laundering case against Subhash Chandra over ₹1,322 crore loan fraud
The Hindu National

How it unfolded 2 developments, newest first · click a bar or a number to jump articles

Peak 6 pieces in 3h at Nov 1, 10 PM; 12 pieces over 12 days (12 articles) Nov 1, 10 AM — 5 pieces · 5 articles — Google News 5Nov 1, 1 PM — quietNov 1, 4 PM — quietNov 1, 7 PM — quietNov 1, 10 PM — 6 pieces · 6 articles — Google News 4, Newswires 2Nov 2, 1 AM — quietNov 2, 4 AM — 1 piece · 1 article — Newswires 1Nov 2, 7 AM — quietNov 2, 10 AM — quietNov 2, 1 PM — quietNov 2, 4 PM — quietNov 2, 7 PM — quietNov 2, 10 PM — quietNov 3, 1 AM — quietNov 3, 4 AM — quietNov 3, 7 AM — quietNov 3, 10 AM — quietNov 3, 1 PM — quietNov 3, 4 PM — quietNov 3, 7 PM — quietNov 3, 10 PM — quietNov 4, 1 AM — quietNov 4, 4 AM — quietNov 4, 7 AM — quietNov 4, 10 AM — quietNov 4, 1 PM — quietNov 4, 4 PM — quietNov 4, 7 PM — quietNov 4, 10 PM — quietNov 5, 1 AM — quietNov 5, 4 AM — quietNov 5, 7 AM — quietNov 5, 10 AM — quietNov 5, 1 PM — quietNov 5, 4 PM — quietNov 5, 7 PM — quietNov 5, 10 PM — quietNov 6, 1 AM — quietNov 6, 4 AM — quietNov 6, 7 AM — quietNov 6, 10 AM — quietNov 6, 1 PM — quietNov 6, 4 PM — quietNov 6, 7 PM — quietNov 6, 10 PM — quietNov 7, 1 AM — quietNov 7, 4 AM — quietNov 7, 7 AM — quietNov 7, 10 AM — quietNov 7, 1 PM — quietNov 7, 4 PM — quietNov 7, 7 PM — quietNov 7, 10 PM — quietNov 8, 1 AM — quietNov 8, 4 AM — quietNov 8, 7 AM — quietNov 8, 10 AM — quietNov 8, 1 PM — quietNov 8, 4 PM — quietNov 8, 7 PM — quietNov 8, 10 PM — quietNov 9, 1 AM — quietNov 9, 4 AM — quietNov 9, 7 AM — quietNov 9, 10 AM — quietNov 9, 1 PM — quietNov 9, 4 PM — quietNov 9, 7 PM — quietNov 9, 10 PM — quietNov 10, 1 AM — quietNov 10, 4 AM — quietNov 10, 7 AM — quietNov 10, 10 AM — quietNov 10, 1 PM — quietNov 10, 4 PM — quietNov 10, 7 PM — quietNov 10, 10 PM — quietNov 11, 1 AM — quietNov 11, 4 AM — quietNov 11, 7 AM — quietNov 11, 10 AM — quietNov 11, 1 PM — quietNov 11, 4 PM — quietNov 11, 7 PM — quietNov 11, 10 PM — quietYesterday, 1 AM — quietYesterday, 4 AM — quietYesterday, 7 AM — quietYesterday, 10 AM — quietYesterday, 1 PM — quietYesterday, 4 PM — quietYesterday, 7 PM — quietYesterday, 10 PM — quietToday, 1 AM — quietToday, 4 AM — quietToday, 7 AM — quietToday, 10 AM — quietToday, 1 PM — quietToday, 4 PM — quietToday, 7 PM — quiet 12
Nov 2Nov 3Nov 4Nov 5Nov 6Nov 7Nov 8Nov 9Nov 10Nov 11yesterdaynow · 9:26 PM ET
  1. 2

    ED registers money laundering case against Chandra

    The Enforcement Directorate registered a money laundering case against Subhash Chandra under the Prevention of Money Laundering Act, taking cognisance of the CBI FIR. The case pertains to the alleged loan fraud involving inflated net-worth certificates and defaults totalling ₹1,322 crore.

    “The officials said the case has been filed under the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR.”
    — ED officials

    1. 4 outlets first by The Economic Times, 12d ago · also NDTV, National Herald, The New Indian Express · read ↗

    2. 2 outlets first by NewsBytes, 11d ago · also The Hindu · read ↗

    1 more claim →
  2. 1

    CBI files FIR on LICHFL's complaint

    The Central Bureau of Investigation registered a First Information Report based on the complaint filed by LICHFL alleging loan fraud and document forgery.

  3. background

    LICHFL files complaint alleging loan fraud and ₹1,322 crore loss — LICHFL lodged a complaint alleging that Chandra submitted net-worth certificates to secure ₹980 crore in loans and subsequently defaulted, causing a loss of ₹1,322 crore. The complaint noted that during insolvency proceedings, Chandra denied having the net worth stated in the certificates.

  4. background

    MPJ and Co certifies Chandra's net worth at ₹40,562 crore — Chartered accountants MPJ and Co issued a second net-worth certificate on July 6, 2018, certifying Chandra's net worth at ₹40,562 crore, which partly supported the ₹480 crore digital facility approval.

  5. background

    LICHFL extends ₹480 crore facility to Digital Subscriber Management with Chandra guarantee — LICHFL approved a ₹480 crore rental-discounting facility under a rental-securitisation scheme to Digital Subscriber Management and Consultancy Services Private Limited and Spirit Infra Power and Multi Ventures Private Limited, secured by Chandra's continuing guarantee.

  6. background

    DJM and Co certifies Chandra's net worth at ₹59,000 crore — Chartered accountants DJM and Co issued a net-worth certificate on March 28, 2018, certifying Subhash Chandra's net worth at approximately ₹59,000 crore, which was used to secure LICHFL loan approvals.

  7. background

    LICHFL extends ₹500 crore facility to Vasant Sagar Properties with Chandra guarantee — LICHFL sanctioned a ₹500 crore home-entity loan for takeover, top-up and business expansion to Vasant Sagar Properties Private Limited and Pan India Infra Projects Private Limited, secured by a continuing guarantee executed by Subhash Chandra on March 28, 2018.