📷 Image: Wikimedia Commons / Ameyakhandekar11
Crime
ED books money-laundering case against Subhash Chandra over ₹1,322 crore loan fraud
✍️ Amar Ujala · Delhi
🗓 03 Nov 2026, 06:15 AM
👁 20
The Enforcement Directorate has filed a money‑laundering case against media baron Subhash Chandra, alleging a ₹1,322 crore loan fraud at LIC Housing Finance.
The Enforcement Directorate (ED) on Tuesday registered a money‑laundering case against Subhash Chandra, the founder of Zee Entertainment, over an alleged loan fraud of ₹1,322 crore involving LIC Housing Finance. The agency’s filing states that the loan was purportedly obtained through falsified documents and that the proceeds were subsequently routed through multiple entities to conceal their origin.
According to the ED’s complaint, the fraudulent loan was disbursed in several tranches between 2015 and 2020. Investigators allege that Chandra and his associates used shell companies and offshore accounts to launder the funds, violating the Prevention of Money Laundering Act, 2002.
The case adds to a series of legal challenges faced by the media magnate in recent months. ED officials have not disclosed the exact number of arrests or the status of any ongoing investigations, but they indicated that further inquiries are underway.
Legal experts note that a money‑laundering charge carries severe penalties, including imprisonment and hefty fines, and could impact Chandra’s business interests across the media and real‑estate sectors.
The ED has directed the Enforcement Directorate’s Special Investigation Team to seize relevant documents and assets linked to the alleged fraud, and the matter is now before a Delhi court for further proceedings.
According to the ED’s complaint, the fraudulent loan was disbursed in several tranches between 2015 and 2020. Investigators allege that Chandra and his associates used shell companies and offshore accounts to launder the funds, violating the Prevention of Money Laundering Act, 2002.
The case adds to a series of legal challenges faced by the media magnate in recent months. ED officials have not disclosed the exact number of arrests or the status of any ongoing investigations, but they indicated that further inquiries are underway.
Legal experts note that a money‑laundering charge carries severe penalties, including imprisonment and hefty fines, and could impact Chandra’s business interests across the media and real‑estate sectors.
The ED has directed the Enforcement Directorate’s Special Investigation Team to seize relevant documents and assets linked to the alleged fraud, and the matter is now before a Delhi court for further proceedings.