Subhash Chandra

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. The complaint concerns a Rs 500 crore facility extended to Vasant Sagar Properties Pvt Ltd, with Pan India Infra Projects Pvt Ltd as co-borrower, and a Rs 480 crore facility extended to Digital Subscriber Management and Consultancy Services Pvt Ltd, with Spirit Infra Power and Multi Ventures Pvt Ltd as co-borrower, the FIR alleged. According to the complaint, the Rs 500-crore Vasant Sagar facility was sanctioned as a home entity loan

A five-member special NCLT bench constituted to hear the personal insolvency case of Subhash Chandra on Tuesday issued notices to all the parties and directed the Essel Group Chairman not to alienate his properties, either directly or indirectly. Last week, NCLT approved a repayment plan under which creditors are set to recover about Rs 6.25 crore from Chandra's personal estate against claims of roughly Rs 22,006 crore. Chandra said the Rs 22,006 crore figure had been widely misunderstood because it represented claims arising from personal guarantees he had provided for loans taken by companies associated with the Essel Group, rather than money he had personally borrowed. The five-member bench, led by President Justice Anupinder Singh Grewal, said that since there was no majority view among the members, including the third member, there was no final order and the verdict could not be given effect to. "Let notice be issued to all the parties," the National Company Law Tribunal (NCLT

NCLT stays approval of Subhash Chandra's ₹6.25 crore repayment plan, saying no clear majority emerged in earlier orders; it also bars Chandra from transferring or selling any property

Lenders are challenging the NCLT's approval of Essel Group founder Subhash Chandra's repayment plan, questioning the recovery quantum and creditors' voting process

Canara Bank, Union Bank of India and LIC Housing Finance are moving NCLAT against the NCLT's approval of Subhash Chandra's repayment plan

Lender weighs appeal after NCLT approves ₹6.25 crore repayment against admitted claims of ₹22,000.57 crore; several major creditors had opposed the plan

Chandra addressed what he described as allegations and speculation surrounding him, his family, and the group's financial position

Essel Group founder says lenders objecting to his repayment plan filed claims worth ₹3,992 crore, while the ₹22,006 crore figure represents total claims filed

Subhash Chandra's repayment plan was backed by creditors holding 80.81 per cent of voting value, despite objections from several banks and institutional lenders

NCLT has approved Subhash Chandra's ₹6.5 crore repayment plan against ₹22,006.57 crore claims; the plan was backed by creditors holding 80.81 per cent of the voting share

Zee has sought permission to proceed with its ₹3,143 crore preferential warrant issue and access mutual fund units, while Goenka has challenged Sebi's restraining order

Subhash Chandra says India's media industry has become a ₹2.7-trillion powerhouse, expanded the country's global cultural influence and created millions of jobs since liberalisation

NCERT's revised Class 8 social science textbook updates its Partition narrative, adds Savarkar's Swaraj demand and removes references to Hitler and Nazi ideology

Essel group Chairman Subhash Chandra has sold a prime Lutyens' Delhi bungalow to an unnamed businessman for Rs 1,260 crore in what is being touted as one of the costliest property deals in recent times, sources said. The nearly 3-acre bungalow on Bhagwan Das Road in close vicinity to Connaught Place and India Gate has been bought by a "Delhi-based business family", the sources said, refusing to divulge the identity of the buyer. The residential plot is on the same road as another plot that Gautam Adani conglomerate had bought in 2020 for a reported Rs 400 crore. Sources said the Rs 1,260 crore deal will be closed by the first week of December. A spokesperson of Zee Group declined to comment on the transaction. Chandra had acquired the property in 2015 for Rs 304 crore, translating into a more than four-fold increase in value over the past decade. In Lutyens Bungalow Zone (LBZ), there are around 3,000 bungalows. The LBZ is one of the most expensive real estate locations in the cou

Subhash Chandra admits Zee News led the charge against Rhea Chakraborty, apologising as the CBI confirms Sushant Rajput's death was not a murder

The matter pertains to alleged violations of LODR regulations

Regulatory official calls allegations "malicious and opportunist"

Zee founder had filed writ petition against regulator's summons in fund diversion case

Chandra had filed an appeal against the order and summons by Sebi in the alleged fund diversion matter in Zee Entertainment Enterprises

Zee said it will use the funds to "enhance its strategic flexibility to pursue future growth opportunities in the evolving media landscape"