Description
Sammaan Capital clarifies news about Delhi Police FIR filed against ex-promoter Sameer Gehlaut, stating no current connection with the company since his exit in 2023.
Summary
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) issued a clarification regarding media reports about Delhi Police filing an FIR 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 completely divested his shareholding by September 2023. The FIR pertains to alleged fraud and criminal conspiracy involving transactions between Gehlaut and five corporate groups (Americorp, Reliance ADAG, DLF Group, Vatika Group, and Chordia Group). The company clarified it has no current relation with Gehlaut.
Key Points
- Delhi Police Economic Offences Wing registered FIR No. 175/25 dated December 15, 2025 against ex-promoter Sameer Gehlaut
- FIR relates to alleged 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
- Enforcement Directorate informed Delhi Police EOW about the alleged fraud, leading to FIR registration
- CBI, ED, SFIO and SEBI held meeting to examine whether SIT formation is required; decision on SIT could not be taken
- Sameer Gehlaut applied for de-promoterisation in December 2021
- Gehlaut exited from board of directors in March 2022
- Exchange approval for de-promoterisation received in February 2023
- Gehlaut completely exited as shareholder by September 2023
- News item relates to ongoing SLP (Citizens Whistle Blowers Forum Vs Union of India & Ors) court hearing on December 17, 2025
- Company previously disclosed detailed brief on November 19, 2025
Regulatory Changes
No regulatory changes announced in this circular.
Compliance Requirements
No new compliance requirements. The circular is a clarification disclosure in response to BSE and NSE communications regarding media reports.
Important Dates
- December 15, 2025: Delhi Police EOW registered FIR No. 175/25
- December 17, 2025: Court hearing in SLP case; CBI and Delhi Police filed affidavits
- December 18, 2025: Company issued clarification
- December 2021: Sameer Gehlaut applied for de-promoterisation
- March 2022: Gehlaut exited from board of directors
- February 2023: Exchange approval for de-promoterisation
- September 2023: Gehlaut exited as shareholder
- November 19, 2025: Previous detailed brief disclosed to exchanges
Impact Assessment
Market Impact: Medium - While the FIR against ex-promoter could create short-term negative sentiment (stock fell 7% from day’s high on news), the company’s clear separation from Gehlaut since 2023 limits direct impact. Investors should note the company has no current association with the individual under investigation.
Operational Impact: Low - No operational impact as the investigation pertains to alleged activities of an ex-promoter who has completely exited the company (as director, promoter, and shareholder) over two years ago.
Legal Impact: Low for company - Investigations are directed at Sameer Gehlaut and five corporate groups, not at Sammaan Capital Limited. However, legacy association and previous company name (Indiabulls Housing Finance) may continue to draw media attention.
Reputational Impact: Medium - Despite clear separation, continued media coverage of investigations involving ex-promoter may affect company reputation in short term, requiring ongoing proactive disclosure.
Impact Justification
Company clarification on legal proceedings against ex-promoter; relevant for investor awareness but no direct operational impact as promoter exited in 2023