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2 clusters · 2 sources · 25 days · First seen · Last updated

Sammaan Capital financial irregularity investigation

Overview

The Supreme Court of India has directed the Central Bureau of Investigation (CBI) to conduct an independent probe into allegations of financial irregularities involving the promoters of Sammaan Capital, formerly known as Indiabulls Housing Finance Limited.

The investigation follows a Public Interest Litigation alleging fund siphoning, share price manipulation, and the “evergreening of loans.” While the Delhi Police Economic Offences Wing had previously recommended against action on most allegations, the Court ordered the CBI to proceed regardless. Additionally, the Economic Offences Wing must complete its investigation into a specific ₹1,575 crore transaction.

Sammaan Capital has denied the allegations, stating that all cited loan accounts have been fully repaid and that previous reviews by the Ministry of Corporate Affairs and the Serious Fraud Investigation Office found no evidence of embezzlement.

Entities

Central Bureau of Investigation · Indiabulls Housing Finance Ltd · Calcutta High Court · Citizens Whistleblower Forum · Supreme Court of India

Timeline

  1. about 5 hours ago

    [CRIME] 2 sources
    Calcutta High Court orders CBI probe into illegal Kolkata constructions

    The Calcutta High Court has ordered a CBI probe into illegal high-rise constructions in Kolkata, investigating allegations of massive money laundering and corruption involving municipal officials.

  2. 25 days ago

    [BUSINESS] 5 sources
    Sammaan Capital: Supreme Court orders CBI probe into financial irregularity allegations

    The Supreme Court of India has ordered the CBI to investigate financial irregularity allegations against Sammaan Capital (formerly Indiabulls Housing Finance) despite prior exonerating reports by the EOW.

Sources

najarbandi.in · uttarbangasambad.com