**CBI Registers Case Against Subhash Chandra and Others Over ₹980 Crore LIC Housing Finance Loans** The Central Bureau of Investigation (CBI) has registered a case against Essel Group Chairman Subhash Chandra and others in connection with loans worth around ₹980 crore obtained from LIC Housing Finance Limited (LIC HFL). The case relates to two loan facilities: * Around ₹500 crore extended to Vasant Sagar Properties and Pan India Infra Projects. * Around ₹480 crore extended to Digital Subscriber Management and Consultancy Services and Spirit Infra Power. Both loan facilities subsequently turned into non-performing assets (NPAs). The combined outstanding amount crossed ₹1,000 crore, while LIC HFL has claimed losses of around ₹1,322 crore. ### Net-Worth Certificates Under Scrutiny A key part of the CBI investigation concerns net-worth certificates submitted by Subhash Chandra while providing guarantees for the loans in 2018. According to the allegations under investigation, one certificate showed his net worth at around ₹59,113 crore, while another placed it at around ₹40,562 crore. During personal insolvency proceedings several years later, Chandra reportedly declared his net worth at around ₹31.79 crore. He also reportedly stated that his net worth during 2017-18 was significantly lower than the figures mentioned in the earlier certificates. The CBI is expected to examine whether the net-worth certificates contained inflated figures, how they were verified and what role was played by the individuals who prepared or relied upon the documents. The investigation will determine whether any wrongdoing took place in connection with the loan facilities and the financial declarations submitted to the lender. The case highlights the importance of accurate financial disclosures during the lending process, particularly when large institutional loans and guarantees are involved. The allegations remain subject to investigation, and any responsibility or wrongdoing will be determined through the appropriate legal process.