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ED registers money laundering case against Subhash Chandra over loan fraud
The Enforcement Directorate has registered a money laundering case against media baron Subhash Chandra in connection with an alleged loan fraud that caused a Rs 1,322 crore loss to Life Insurance Corporation Housing Finance Limited (LICHFL), officials said on Monday. Chandra is alleged to have inflated his net worth to avail loans from LICHFL and then defaulted on them. The officials said the case has been filed under the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR…
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