The Supreme Court of India has taken a significant step in addressing potential irregularities at Sammaan Capital , while also issuing an important clarification regarding its stance on the allegations against the company.

Key Developments

• The Supreme Court has instructed the Central Bureau of Investigation (CBI), Securities and Exchange Board of India (SEBI), Serious Fraud Investigation Office (SFIO), and Enforcement Directorate (ED) to discuss claims of irregularities in Sammaan Capital.
• This directive involves a coordinated effort among multiple regulatory and investigative agencies to examine potential violations at the company.
• The order underscores the seriousness of the allegations and the need for a comprehensive investigation into Sammaan Capital's operations.
• In a recent clarification, the Supreme Court stated that it has not expressed any opinion on the merits of allegations against Sammaan Capital. This clarification addresses the legal proceedings involving the company and provides clarity on the court's stance regarding the pending allegations.

Implications for Sammaan Capital

While the specifics of the alleged irregularities have not been disclosed, this development could have significant consequences for Sammaan Capital. The involvement of multiple agencies suggests that the investigation may cover a wide range of potential issues, from financial discrepancies to regulatory non-compliance. However, the court's clarification emphasizes that no judgment has been made on the merits of these allegations.

Investor Considerations

Investors and stakeholders of Sammaan Capital should closely monitor the situation as it unfolds. The outcome of this multi-agency probe could potentially impact the company's operations, financial standing, and market perception. The court's clarification may provide some reassurance, but it's important to note that the investigation is ongoing.

Broader Market Impact

This case may also have wider implications for the financial sector:

1. Regulatory Scrutiny: It may signal increased vigilance by regulatory bodies in the financial sector.
2. Corporate Governance: The case could lead to renewed focus on corporate governance practices across the industry.
3. Investor Confidence: Depending on the outcome, it may affect investor sentiment towards similar financial institutions.

As the investigation progresses, more details are expected to emerge. Stakeholders are advised to stay informed about any official statements or disclosures from Sammaan Capital or the investigating agencies.

Recent Financial Obligations

While not directly related to the Supreme Court's order, it's worth noting that Sammaan Capital has been meeting its financial obligations. According to the latest Listing Obligations and Disclosure Requirements (LODR) data, the company has been making interest payments on its Non-Convertible Debentures (NCDs). Here's a summary of recent payments:

This data indicates that despite the ongoing investigation, Sammaan Capital has been maintaining its debt servicing commitments. However, investors should note that past performance does not guarantee future results, especially in light of the current regulatory scrutiny.

As this situation develops, all parties involved will be keenly watching for the outcomes of the multi-agency discussions and any subsequent actions taken. The case of Sammaan Capital serves as a reminder of the importance of regulatory oversight and transparency in the financial sector, while also highlighting the need for due process and fair assessment of allegations.

Sammaan Capital Limited , formerly known as Indiabulls Housing Finance Limited, has released its monitoring agency reports for the quarter ended September 30, 2025, detailing the utilization of proceeds from its Qualified Institutional Placement (QIP) and Rights Issue.

QIP Proceeds Fully Utilized

The company raised Rs. 13,000.00 million through its QIP, with net proceeds amounting to Rs. 12,648.90 million. As of September 30, 2025, Sammaan Capital has fully utilized the funds allocated for augmenting its capital base, amounting to Rs. 9,593.90 million. This was completed during the quarter ended March 31, 2025.

For general corporate purposes, the company has utilized Rs. 3,039.06 million out of the allocated Rs. 3,055.00 million, leaving a small balance of Rs. 15.94 million unutilized.

Rights Issue Funds Largely Deployed

The Rights Issue raised gross proceeds of Rs. 36,933.98 million, with net proceeds of Rs. 36,134.68 million. As of the latest report, the company has utilized a significant portion of these funds:

No additional proceeds were received during the reported quarter. The cumulative gross proceeds received till September 30, 2025, stand at Rs. 36,632.47 million, with the remaining Rs. 301.53 million yet to be received through subsequent calls.

No Deviations Reported

CRISIL Ratings Limited, the appointed monitoring agency, reported no deviations from the stated objectives for both the QIP and Rights Issue. The funds have been utilized in line with the purposes outlined in the respective offer documents.

Management Changes

In a separate announcement, Sammaan Capital reported changes in its management team. Mr. Vinay Gupta has been appointed as the Chief Compliance Officer, effective November 6, 2025, replacing Mr. Somil Rastogi. Mr. Rastogi has transitioned to the role of SMP and Head – Credit & Policy.

Mr. Gupta brings over two decades of experience in compliance, legal, and company secretarial functions within the BFSI sector. His expertise includes regulatory compliance, risk management, corporate governance, and strategic legal advisory.

These reports and management changes reflect Sammaan Capital's commitment to transparency and strategic growth as it continues to strengthen its position in the non-banking financial sector.