The CBI has registered an FIR against media baron Subhash Chandra for allegedly inflating his net worth to avail loans from Life Insurance Corporation Housing Finance Ltd (LICHFL), which became default, causing over Rs 1,322 crore loss to the public sector lender, officials said Saturday.
The LICHFL has alleged in its complaint, which is now part of the FIR, that Chandra submitted net worth certificates that were used to secure approval and disbursal of two loans totalling Rs 980 crore. There as no immediate reaction from the accused named in the FIR.
