Zee says unrelated to CBI probe into Subhash Chandra loan
Zee Entertainment wants everyone to know it is not part of the Central Bureau of Investigation, or CBI, investigation into its founder, Subhash Chandra. The probe is about alleged misuse of a ₹1,322 crore loan and involves Chandra and related promoter groups.
Zee reassured that "The Company would like to state that the matters are pertaining to Dr. Subhash Chandra and the promoter entities and have no bearing on 'Z' or its operations in any manner," said a Zee Spokesperson.
LIC Housing Finance files ₹500cr complaint
The investigation started after LIC Housing Finance filed a complaint on August 31, accusing Chandra and others of cheating, criminal conspiracy, and criminal breach of trust in connection with defaulted loans.
A big part of this centers on a ₹500 crore loan given to two companies with Chandra as guarantor since 2018.
Meanwhile, Zee keeps its distance from the case, focusing on running things smoothly.