NEW DELHI: A Delhi Police Economic Offences Wing (EOW) status report filed in the apex court indicated no direct financial link between loans disbursed by Indiabulls Housing Finance Ltd (IHFL) and entities associated with the company’s former promoter Sameer Gehlaut related to DLF, Reliance ADAG, Vatika groups, and others.
On August 11, 2026, the EOW filed a detailed finding in a Special Leave Petition before the Supreme Court following a probe into allegations concerning loans advanced by IHFL, now known as Sammaan Capital Limited, to five corporate borrower groups — DLF, Vatika, Chordia, Americorp and Reliance ADAG.
The EOW report stated that gross collections exceeded the sanctioned amounts for every borrower group and all 197 accounts had been fully repaid and closed.
“It is submitted that all the above figures stand verified by M/s N.D. Kapur & Co., Chartered Accountants, vide certificate dated 11.12.2025. The gross collection represents the total amount received by Sammaan Capital Ltd. inclusive of TDS, and it is significant that in respect of every group, the gross collection exceeds the amount sanctioned, and all 197 loan accounts across the five groups stand fully repaid/closed,” the report said.
The status report was filed in compliance with the Supreme Court’s July 28, 2026 order in a petition by Citizens Whistle Blower Forum.
The agency thoroughly investigated IHFL’s alleged financing to DLF Group companies and the routing of funds to Sameer Gehlaut’s entities.
“That upon scrutiny of bank statements and client ledgers, it was observed that all loan disbursements and repayments recorded in the books of IHFL were duly reflected in corresponding bank accounts, thereby confirming the genuineness of transactions. It was further observed that year-wise outstanding loan amounts showed a consistent declining trend, indicating regular repayment of loans by DLF Group companies,” it added.
As per the National Housing Bank (NHB) Special Audit report, outstanding loans reduced from Rs 2858.72 crore in 2017 to Rs 1180.63 crore in 2019, and by 31 March 2020, the outstanding amount had become nil, confirming that the loans were fully repaid.
The agency also examined loans given by Indiabulls Housing Finance Limited (IHFL) to companies linked to Americorp Group.
It also obtained the NHB Special Audit Report, documents from IHFL, Securities and Exchange Board of India (SEBI), the Ministry of Corporate Affairs (MCA) and other relevant documents.
“That SEBI’s Investigation Department examined the allegations and available records in detail. After completing its examination, SEBI did not find sufficient material to justify any further action. SEBI’s forensic accounting division also reviewed the matter, examining allegations related to fund diversion and financial irregularities. However, no conclusive evidence was found to support the allegations, the report added.
