Subhash Chandra, who got 99.97% debt haircut, booked by CBI for ₹1,322-crore fraud

CBI has filed a case against Zee Founder Subhash Chandra, who recently got a debt haircut of 99.97%, for cheating LIC Housing Finance of ₹1,322 crore. LICHFL claimed Chandra submitted a "net worth certificate" for ₹59,113 crore in 2018 to get loans for multiple companies. It claimed that Chandra later said he didn't have more than ₹40,000 crore in 2017-18.