CBI books Subhash Chandra over alleged ₹1,322-crore loss to LIC Housing Finance
The CBI has booked businessman Subhash Chandra for allegedly causing a ₹1,322-crore loss to LIC Housing Finance through the misrepresentation of his net worth. The case involves multiple companies and personal guarantees provided for credit facilities.
Why it matters
This case underscores the risks of corporate financial fraud and the scrutiny of personal guarantees in large-scale lending.
The Central Bureau of Investigation (CBI) has registered a case against businessman Subhash Chandra and others for allegedly causing a wrongful loss of over ₹1,322 crore to the LIC Housing Finance Limited (LICHFL) through misrepresentation of facts.
Those named in the First Information Report (FIR) include Mr. Chandra, Vasant Sagar Properties Private Limited and its director Pankaj Suroliya, Pan India Infrastructure Private Limited, Digital Subscriber Management and Consultancy Services Private Limited and its director Amish Pandya; Spirit Infrapower and Multiventures Private Limited and its director Rajeev Dholakia; and unknown others.
LICHFL lodged a complaint with the agency on August 31, 2026, and the case was registered the same day. The complainant alleged that it had granted two credit facilities on Mr. Chandra’s personal guarantees executed in 2018.
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