Sammaan Capital says PIL-linked probe does not name it as an accused

Lender says EOW status report found loans to five borrower groups were repaid with interest; CBI probe concerns erstwhile promoter Sameer Gehlaut and related entities

Sammaan Capital on Tuesday said it is not an accused in any investigation arising from allegations made in a public interest litigation (PIL) concerning its erstwhile promoter Sameer Gehlaut.

 

In a stock exchange filing, the lender said the Economic Offences Wing (EOW) of the Delhi Police, in a status report filed on August 11, stated that Sammaan Capital had received back all money related to loans extended to five borrower groups named in the PIL.

 

The Supreme Court on Tuesday directed the Central Bureau of Investigation (CBI) to examine the allegations in a first information report (FIR) registered by the EOW on December 15, 2025.

 

“The CBI has been asked to probe allegations against the erstwhile promoter. Sammaan Capital is not an accused but a ‘victim’,” the company’s advocate Nalin Kohli said after the hearing.

 

The FIR names Gehlaut, the erstwhile promoter of Indiabulls Housing Finance, along with DLF Group, Vatika Group, Americorp Group, Chordia Group and Reliance ADAG Group. Sammaan Capital was not named as an accused and was instead treated as a “victim” of the alleged quid pro quo arrangements, if any, between the borrower groups and Gehlaut and his promoter entities, the lender said.

 

According to Sammaan Capital, investigations by the EOW and CBI found that loans extended to the five borrower groups were repaid with interest and the accounts were closed. The company said there was no indication of wrongdoing in these transactions.

 

“Broadly, it has been held that whatever loans were given by Sammaan Capital were duly received, interest was paid, which means the company received more than the principal amount, and those loans are now closed. There is no indication of any wrongdoing. The company is professionally run. The erstwhile promoter has nothing to do with it,” Kohli said.

 

“Various statutory agencies have examined the allegations over the past seven years. Whether it is RBI, NHB, MCA, SEBI, or now EOW and CBI, we have got a clean chit everywhere,” he said.

 

Kohli also said Sammaan Capital had received one of the largest overseas investments into India. “The board has undergone a change, and it is recognised as one of the largest investments into India. We are a law-abiding company,” he added.

 

Separately, the CBI is examining transactions involving companies linked to the promoters of Yes Bank and Gehlaut. Sammaan Capital said the investigation concerns Gehlaut, his promoter companies and former Yes Bank promoter Rana Kapoor, and does not involve the company.

 

Gehlaut ceased to be the promoter of Sammaan Capital and divested his entire shareholding in 2023. The company is now controlled by Abu Dhabi-based International Holding Company PJSC (IHC), which has committed to invest $1 billion in the company.

 

Sammaan Capital said it has had no connection with Gehlaut since his exit and will continue to cooperate with authorities in any investigation concerning the erstwhile promoter or other entities.

 

The lender said the Ministry of Corporate Affairs, National Housing Bank, Securities and Exchange Board of India, Reserve Bank of India and EOW had examined the matter and had not found violations as alleged in the PIL.