SC orders CBI probe against former Sammaan promoters

NEW DELHI: The Supreme Court on Tuesday directed the Central Bureau of Investigation (CBI) to examine all six allegations flagged by the Enforcement Directorate (ED) against the former promoters of Indiabulls Housing Finance, now Sammaan Capital, and its related entities.

The allegations include irregularities and siphoning of funds in five transactions in which an earlier investigation by the Delhi Police's Economic Offences Wing (EOW) had found no irregularity.

The apex court also directed the special court in Mumbai dealing with money-laundering cases to decide within two weeks on the CBI's plea seeking further investigation into a sixth transaction involving Rs 1,574 crore.


It asked both the CBI and the EOW to file fresh status reports in the cases.

Counsel Prashant Bhushan, appearing for the Citizens Whistle Blower Forum, told a bench headed by Chief Justice Surya Kant that the ED complaint prima facie disclosed fraud, criminal conspiracy, diversion of funds and evergreening of loans funded by public money through banks by the company and its associated entities.