SC orders CBI probe into ED charges against ex-IHFL promoter

The Supreme Court has directed the CBI to investigate all six allegations of financial irregularities levelled by the Enforcement Directorate against former Indiabulls Housing Finance chairperson Sameer Gehlaut and five corporate groups. The court also ordered the Delhi Police's Economic Offences Wing and the CBI to submit fresh investigation status reports, expressing concern over previous delays. One key allegation involves a Rs 1,574 crore transaction, for which the CBI has sought permission from a Special Court under the PMLA to conduct further probe.

The directions came after the court's repeated criticism of investigating agencies for failing to make meaningful progress. The bench had earlier described the conduct of the CBI and EOW as 'highly questionable' and warned of summoning agency heads. The case originates from a petition by Citizens Whistle Blower Forum seeking a court-monitored SIT probe into allegations of fund diversion and corporate irregularities involving Indiabulls and its promoter. Sammaan Capital, formerly Indiabulls Housing Finance, said there are no allegations against it and that it is a victim in the case.