Description
Sammaan Capital clarifies that the FIR registered by Delhi Police EOW pertains to ex-promoter Sameer Gehlaut who exited the company in 2023, with no current connection to the company.
Summary
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) issued a clarification regarding news reports about a fresh FIR filed by Delhi Police against its ex-promoter Sameer Gehlaut. The company emphasized that Gehlaut ceased to be a promoter in February 2023, exited the board in March 2022, and has no shareholding since September 2023. The FIR registered by Economic Offences Wing (EOW) of Delhi Police on December 15, 2025 (FIR No. 175/25) relates to alleged fraud and criminal conspiracy involving Gehlaut and five corporate groups, but has no connection to the current company.
Key Points
- News article on Moneycontrol dated December 17, 2025 reported stock falling 7% from day’s high after Delhi Police filed fresh FIR
- FIR No. 175/25 dated December 15, 2025 registered by EOW Delhi Police against ex-promoter Sameer Gehlaut
- Allegations involve fraud and criminal conspiracy in quid pro quo transactions between Gehlaut and five corporate groups: Americorp, Reliance ADAG, DLF Group, Vatika Group, and Chordia Group
- CBI and Delhi Police filed affidavits in Supreme Court on December 17, 2025 in ongoing SLP (Citizens Whistle Blowers Forum Vs Union of India & Ors.)
- Meeting of CBI, ED, SFIO and SEBI held as per Supreme Court directions, but decision to form SIT could not be taken
- Enforcement Directorate approached Delhi Police which led to FIR registration
- Sameer Gehlaut applied for ceasing to be promoter in December 2021
- Gehlaut exited board of directors in March 2022
- De-promoterisation approved by exchanges in February 2023
- Gehlaut exited as shareholder completely in September 2023
- Company has no current relation with Gehlaut
Regulatory Changes
No regulatory changes announced in this circular.
Compliance Requirements
No new compliance requirements. The circular fulfills the company’s disclosure obligation to clarify market rumors and provide accurate information to stakeholders regarding ongoing legal proceedings.
Important Dates
- December 17, 2025: News article published; court hearing in Supreme Court; CBI and Delhi Police filed affidavits
- December 15, 2025: FIR No. 175/25 registered by EOW Delhi Police
- November 19, 2025: Company disclosed detailed brief on stock exchanges regarding ongoing court proceedings
- December 2021: Sameer Gehlaut applied for ceasing to be promoter
- March 2022: Gehlaut exited board of directors
- February 2023: De-promoterisation approved by exchanges
- September 2023: Gehlaut exited as shareholder
Impact Assessment
Market Impact: The news caused temporary stock price volatility with a 7% intraday decline, though the company’s clarification emphasizes complete separation from the ex-promoter since 2023.
Legal Impact: The FIR and ongoing investigations target the ex-promoter and five corporate groups, not the current company. However, the company’s former association (as Indiabulls Housing Finance) may continue to attract media attention.
Operational Impact: No direct operational impact as the company has been operating independently of Gehlaut for over two years. The company maintains timely disclosure practices regarding ongoing court proceedings.
Reputational Impact: Potential short-term reputational concerns due to historical association, mitigated by transparent disclosures and complete separation from the individuals under investigation.
Impact Justification
Clarification regarding legal proceedings against ex-promoter with no current connection to company operations