Court proceedings won't affect IHC's investment plans: Sammaan MD & CEO

Samman Capital CEO Gagan Banga says IHC's proposed $1 billion investment remains fully intact despite ongoing court proceedings, with regulatory approvals progressing

The proposed $1 billion investment by Abu Dhabi-based International Holding Company (IHC) in Sammaan Capital for over 43 per cent stake in the lender will not be affected by the ongoing court proceedings against the company, said Gagan Banga, managing director and chief executive officer (MD&CEO) of Sammaan Capital, in an interaction with Business Standard on Thursday.

 

Explaining his optimism, he said that the investor was informed about the case during the due-diligence process, and all potential upsides and downsides were discussed before moving ahead with the finalisation of the investment.

 

“During the due diligence, it was already in play,