India, Sept. 5 -- The CBI has registered an FIR against media baron Subhash Chandra for allegedly inflating his net worth to avail loans from Life Insurance Corporation Housing Finance Ltd (LICHFL), which later went into default, causing a loss of over Rs 1,322 crore to the public sector lender, officials said on Saturday.

LICHFL has alleged in its complaint, which is now part of the FIR, that Chandra submitted net worth certificates that were used to secure approval and disbursal of two loans totalling Rs 980 crore.

There was no immediate reaction from the accused named in the FIR.

The complaint concerns a Rs 500-crore facility extended to Vasant Sagar Properties Pvt Ltd, with Pan India Infra Projects Pvt Ltd as co-borrower, and a Rs ...