The Emperor's False Net Worth: A Cautionary Tale for Corporate Accountability The Central Bureau of Investigation (CBI) has filed an FIR against Essel Group Chairman Subhash Chandra in connection with a massive Rs 1,322 crore fraud at LIC Housing Finance Ltd (LICHFL).
This case raises several red flags about corporate governance and accountability in India. The CBI's FIR reveals a disturbing pattern of deception.
Chandra allegedly submitted false net worth certificates to obtain credit facilities from LICHFL between 2018 and 2026.