The Supreme Court on Tuesday pulled up the Central Bureau of Investigation (CBI) and the Delhi police for their “negligence” in sitting idle for the last seven months over allegations of dubious financial transactions involving Indiabulls Housing Finance Limited (now Sammaan Capital).
Granting two weeks for both agencies to submit a status report, the court questioned their inaction to sit over a December 2025 court order asking the CBI to take a call on registration of a regular case (RC) in the matter upon a complaint submitted by the Enforcement Directorate (ED) making out a prima facie case.
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The bench headed by Chief Justice of India (CJI) Surya Kant said, “This case is very shocking to us that the investigating agencies are sitting silent. In a joint meeting held on December 2, 2025, ED persuaded you [CBI] that there should be action on their complaint. And for the last seven months, what have you done?”
While the court, at one point during the hearing, was keen to summon the heads of Delhi Police and CBI, unhappy over their failure to file a status report, additional solicitor general (ASG) S.V. Raju requested for one more opportunity to submit a report in two weeks.
He explained that the hurdle CBI is facing is that an ‘x’ amount of money was taken out of Indiabulls and was returned to the company with interest. “The money lent was returned with interest by the person concerned. The question is what is the offence involved. That is the hurdle we have to cross,” Raju pointed out.
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Sameer Gehlaut, former promoter of IHFL, whose role in extending credit facilities to corporate houses was found suspect by a plea filed by the PIL petitioner, Citizens Whistleblowers Forum. The forum referred to a Securities Exchange Board of India report highlighting alleged fraud behind the transactions.
Senior advocate Abhishek Manu Singhvi appearing for Sammaan Capital informed the bench that the company has nothing to do with Gehlaut.
