Archive · 19 May 2025
Supreme Court Asks CBI to Probe Indiabulls Fund Allegations
A group called the Citizens Whistle Blower Forum wants the CBI to investigate if the former owners of Indiabulls Housing Finance (now Sammaan Capital) took money improperly.
The Supreme Court is looking into it.
The court sent a notice to the CBI, because if the financial wrongdoing is over 500 crore, the CBI should look into it as per RBI rules.
Sebi said they noticed violations and issued a warning to the company.
The group went to the Supreme Court after the Delhi High Court dismissed their petition.
This is an ongoing legal process to determine if the allegations are true.
Supreme Court issued a notice to the CBI regarding a petition for a probe into IBHFL (now Sammaan Capital).
The petition alleges fund siphoning by IBHFL's former promoters.
The CBI is required to probe financial frauds over Rs 500 crore, as per an RBI circular.
Sebi found violations and issued an administrative warning to IBHFL.
The Delhi HC dismissed the original petition, but the Supreme Court is now involved.
- Who
- Supreme Court, CBI, IBHFL (Sammaan Capital), Citizens Whistle Blower Forum, Sebi
- What
- Supreme Court issued notice to CBI regarding a petition for a probe into alleged financial misconduct by former IBHFL promoters.
- When
- May 14, 2025
- Where
- Supreme Court, Delhi High Court
- Why
- To investigate alleged fund siphoning and violations by IBHFL promoters
Citizens Whistle Blower Forum
Delhi HC/IBHFL
Investigation
Citizens Whistle Blower Forum
Probe into allegations of illegalities, violations and siphoning of funds by the former promoters of IBHFL
Delhi HC/IBHFL
No probe into alleged illegalities, violations and siphoning of funds.
- Companies Involved
- IBHFL (Sammaan Capital), CBI, Sebi
- Legal Bodies
- Supreme Court, Delhi HC
- Petitioner
- Citizens Whistle Blower Forum
- Allegations
- Siphoning of funds, violations
- Sebi Action
- Administrative warning, informing RBI & corporate affairs ministry