What is the ₹1,322-crore fraud case against Subhash Chandra?

The CBI has filed an FIR against Essel Group Chairman Subhash Chandra, alleging he inflated his net worth to secure loans in an alleged ₹1,322 crore fraud involving LIC Housing Finance (LICHFL). Chandra claimed wealth of ₹59,113 crore in 2018, later revising it to ₹40,000 crore. LICHFL alleged he stated his net worth was ₹31.79 crore during 2024 insolvency proceedings.