Sammaan Capital shares fell for second consecutive session on December 18 a day after Delhi Police’s Economic Offences Wing (EoW) registered a fresh FIR as part of its ongoing investigation linked to the former promoters of the firm.
On December 18, the NBFC issued a clarification to the stock exchanges, "It is submitted that Sameer Gehlaut who was the executive chairman and promoter of our Company earlier had applied for ceasing to be a promoter of the company in December 2021 and had exited from the board of directors of the company in March 2022. The de-promoterisation of Gehlaut was duly approved by exchanges in February 2023 and he has also exited as a shareholder of the company since September 2023. The Company has no relation whatsoever with Gehlaut against whom the allegations have been levelled in the FIR, as stated in the affidavit filed by EOW of Delhi Police."
On December 18, Sammaan Capital shares closed 1.7% lower at Rs 143.4 apiece.
"The Economic Offences Wing of Delhi Police in its affidavit has stated that the Enforcement Directorate has informed the EOW of the fraud, criminal conspiracy in the quid pro quo transactions by and between Sameer Gehlaut (erstwhile promoter of the company) and five corporate entities groups and after examination of prima facie material against them the EOW, New Delhi has registered FIR no 175/25 dated 15.12.2025 which is under investigation. It is apparent from the submissions made in the affidavits filed by CBI and Delhi Police that investigations are now being conducted against the erstwhile promoter Sameer Gehlaut and the five corporate entities group," the NBFC further said.
On December 17, Supreme Court directed Central Bureau of Investigation (CBI) to take a final call on registering an FIR in this case, within one week, reported CNBC-TV18.
Supreme Court directed CBI to collect documents from Ministry of Corporate Affairs (MCA), SEBI, Enforcement Directorate (ED) so that registration of FIR could be considered, the channel further reported.
The apex court will take up the case in the second week of January 2026.
The case in the Supreme Court is based on an appeal against an earlier order by the Delhi High Court, which in February 2024 dismissed a plea by Prashant Bhushan’s Citizen Whistle Blower Forum (CWBF).
The plea claimed there were irregularities in lending practices of Sammaan Capital, involving loans to five borrower group companies, and alleged quid pro quo between the five borrower groups and the erstwhile promoter Sameer Gehlaut.
The petition sought directions for investigation by statutory and regulatory authorities, including Reserve Bank of India (RBI), National Housing Bank (NHB), market regulator SEBI and Ministry of Corporate Affairs.
"Sammaan Capital is a publicly listed company with no defaults, no outstanding dues, and no investigations or proceedings pending before any regulatory or enforcement agency, including SEBI, RBI, MCA, or the CBI. This position was earlier placed before the High Court as well, where all regulators had already given a clean chit. The present petition before the Supreme Court does not contain any allegation against Sammaan Capital," Mukul Rohatgi, senior advocate and counsel for Sammaan Capital, had said.
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