Sammaan Capital stock slips as Delhi Police files fresh FIR; SC asks CBI to take call

The Delhi Police’s Economic Offences Wing (EOW) has registered a fresh FIR in connection with a probe into the erstwhile promoters of Sammaan Capital on Wednesday, December 17.

In a parallel proceeding, the Supreme Court has directed the Central Bureau of Investigation (CBI) to take a final decision within one week on whether an FIR should be registered in the matter.

The apex court has also asked the CBI to collect documents from the Ministry of Corporate Affairs (MCA), the Securities and Exchange Board of India (SEBI) and the Enforcement Directorate (ED) to enable it to assess whether the threshold for registration of an FIR is met. The court is scheduled to hear the matter again in the second week of January 2026.

Following the developments, shares of Sammaan Capital, earlier as Indiabulls Housing Finance, slipped 7.64% from intraday highs of ₹153.20 to intraday lows of ₹141.49. The stock closed 0.95% down at ₹145.50 on Wednesday.

The stock reaction comes against the backdrop of recent Supreme Court observations that had triggered heightened volatility in Sammaan Capital shares earlier this month. During an earlier hearing, the apex court had questioned the manner in which investigative agencies examined allegations linked to the company’s former promoter, leading to sharp selling pressure in the stock, which fell as much as 13% on November 19.

Following those observations, Sammaan Capital said in a statement that none of the allegations in the petition were substantiated and that the company is professionally-run, with LIC and BlackRock being the largest shareholders.

The NBFC said the matter before the Supreme Court pertains to actions of its erstwhile promoter, Sameer Gahlaut, who exited the company back in 2022-2023 and is not a shareholder.

The company also pointed out that the Supreme Court has not made any adverse observation against Sammaan Capital on merits, and that there are no pending investigations or proceedings against the company by regulatory or enforcement agencies in relation to the issue.

Despite the clarification, the stock has remained sensitive to legal developments, with investors closely tracking updates from the court and investigating agencies for further direction.