ED Launches Investigation Against Subhash Chandra Over Alleged ₹1,322 Crore Loan Scam

Subhash Chandra, the founder of ZEE Entertainment, is embroiled in legal issues as the Enforcement Directorate investigates him for an alleged loan scam worth ₹1,322 crore. The case, linked to significant financial losses at LIC Housing Finance Limited, accuses Chandra of inflating his assets to secure loans. With the ED now involved, the investigation is examining potential money laundering and financial irregularities. This situation poses new challenges for Chandra, a prominent figure in India's media landscape, as he navigates the complexities of these serious allegations.

By Narendra Chaudhary Nov 3, 2026, 17:04 IST

Investigation Initiated by Enforcement Directorate

New Delhi. Subhash Chandra, the founder of ZEE Entertainment, is facing increasing legal troubles as the Enforcement Directorate (ED) has commenced an investigation into an alleged loan scam amounting to ₹1,322 crore. This case is linked to significant financial losses incurred by the Life Insurance Corporation of India Housing Finance Limited (LICHFL). According to officials, the alleged fraud has resulted in a loss of approximately ₹1,322 crore for the company. It is claimed that Chandra misrepresented his actual assets and financial standing to secure loans.

Allegations of Inflated Asset Valuation

Investigators have accused Subhash Chandra of inflating his assets and overall net worth to obtain substantial loans from LIC Housing Finance Limited. Based on these inflated figures, loans were granted, but he subsequently failed to repay them. This non-repayment has led to significant financial repercussions for the institution, amounting to a loss of around ₹1,322 crore.

The case is now being examined under the lens of money laundering. The ED has registered a case under the Prevention of Money Laundering Act (PMLA) and has begun its inquiry into the financial transactions related to the alleged loan fraud.

Action Following CBI Complaint

The Central Bureau of Investigation (CBI) had previously taken action in this matter. Based on a complaint from LIC Housing Finance Limited, the CBI registered a case concerning the alleged loan fraud. Following this complaint and the associated investigation, the ED has initiated its own inquiry into the money laundering aspect.

Currently, the ED is scrutinizing the alleged financial irregularities, the asset-related information submitted to secure the loans, and the transactions of funds involved. The investigation is still in its early stages, and all facts related to the allegations are yet to be thoroughly examined.

It is noteworthy that Subhash Chandra is recognized as one of the leading media entrepreneurs in the country and has played a pivotal role in establishing the ZEE Group. The initiation of the ED's investigation into the alleged ₹1,322 crore loan scam has presented him with new legal and financial challenges.