SC gets EOW report finding no direct link between IHFL loans, Gehlaut-linked entities in key cases
A Delhi Police Economic Offences Wing (EOW) status report filed before the Supreme Court has said that its investigation so far has not found a direct financial link between loans disbursed by IHFL and investments made in entities associated with its former promoter, Sameer Gehlaut.
A Delhi Police Economic Offences Wing report filed before the Supreme Court has found no direct connection between loans issued by Indiabulls Housing Finance Ltd (IHFL), now known as Sammaan Capital Ltd, and investments made in entities linked to its former promoter Sameer Gehlaut in cases involving the DLF, Chordia and Vatika groups.
The report, filed in response to a petition by Citizens Whistle Blower Forum, was submitted by Additional Commissioner of Police Ravi Kumar Singh. The investigation examined financial records and documents from Sammaan Capital, SEBI, the Ministry of Corporate Affairs and the National Housing Bank. In the DLF Group case, 67 loans totaling ₹2,212.65 crore were sanctioned and disbursed, with no evidence found linking the loan funds to investments in a company owned by Gehlaut.
For the Chordia Group, six loans totaling ₹1,490 crore were fully repaid, and no direct link was established between the IHFL loans and any alleged benefits to Gehlaut or his entities. Regarding the Vatika Group, 113 loans totaling ₹2,832.21 crore were sanctioned and disbursed, with all accounts closed, and no financial trail was found connecting the IHFL loans to investments made by Agnes Developers Pvt Ltd, a Vatika Group entity, in companies associated with Gehlaut.
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