Sammaan Capital shares fall 8% as Delhi Police files FIR against its former promoters

SYNOPSIS: Delhi Police’s EoW filed a fresh FIR against Sammaan Capital’s former promoters, while the Supreme Court directed the CBI to decide on registering a case after reviewing documents from regulators.

During Wednesday’s trading session, shares of a company registered with and regulated by the National Housing Bank (NHB) and engaged in providing home loans and loans against property slid nearly 8 percent from the day’s high on the BSE. What triggered this decline? Let’s explore the details in this article.

At 03:26 p.m., the shares of Sammaan Capital Limited were trading in the red at Rs. 145.8 on BSE, down by around 1 percent, as against its previous closing price of Rs. 147, with a market cap of Rs. 12,077 crores. The stock has delivered negative returns of nearly 7 percent in one year, and has fallen by over 20 percent in the last one month.

What’s the News:

According to multiple reports, the Economic Offences Wing (EoW) of the Delhi Police has registered a fresh FIR in connection with its ongoing probe involving the former promoters of Sammaan Capital. Separately, on 17th December, the Supreme Court directed the Central Bureau of Investigation (CBI) to decide within one week whether to register an FIR in the matter.

The apex court also instructed the CBI to gather relevant documents from the Ministry of Corporate Affairs (MCA), the Securities and Exchange Board of India (SEBI), and the Enforcement Directorate (ED) to enable an informed decision on the registration of a case, as reported by news channels. Further, the Supreme Court has scheduled the next hearing in the matter for the second week of January 2026.

The proceedings before the apex court arise from an appeal challenging a February 2024 order of the Delhi High Court, which had dismissed a petition filed by Prashant Bhushan’s Citizen Whistle Blower Forum (CWBF).

The petition had alleged irregularities in Sammaan Capital’s lending practices, including loans extended to five borrower group entities, and claimed the existence of a quid pro quo arrangement involving those borrower groups and the company’s former promoter, Sameer Gehlaut.

The plea had sought directions for a detailed investigation by multiple statutory and regulatory bodies, including the Reserve Bank of India (RBI), National Housing Bank (NHB), SEBI, and the Ministry of Corporate Affairs.

Financials & more:

Sammaan Capital reported a marginal decline in its revenue from operations, showing a year-on-year decrease of around 7 percent from Rs. 2,422 crores in Q2 FY25 to Rs. 2,251 crores in Q2 FY26. However, the company delivered a sharp turnaround in profitability, shifting from a net loss of Rs. 2,761 crore to a net profit of Rs. 308 crore over the same period.

Sammaan Capital Limited, formerly Indiabulls Housing Finance Limited, is primarily engaged in the business of providing finance and undertaking all lending and financing.

Written by Shivani Singh

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