Sammaan Cap settles case with Svamaan, can now use 'Sammaan' name for pdts
This story was originally published at 19:12 IST on 19 March 2025
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NEW DELHI – Sammaan Capital Ltd. and its wholly-owned subsidiary Sammaan Finserve Ltd. have settled a permanent injunction suit filed by Svamaan Financial Services Pvt. Ltd. in the Delhi High Court regarding the use of the name 'Sammaan' by the former. Informing the exchanges, Sammaan Capital said that the parties have settled the issues involved in the suit by executing consent terms, which have been filed with the court, that has taken the same on record and passed a decree and disposed of the suit filed by Svamaan.
As per the consent terms, Sammaan Capital, Sammaan Finserve and other subsidiaries can continue to use the name 'Sammaan' for all their existing loan product offerings, and loan products that are part of the stated business plan, without any restrictions, including no restriction with respect to the size of such loans offered by the companies.
Svamaan Financial, a non-banking finance company registered with the Reserve Bank of India as a microfinance institution, had filed a suit before a single judge bench of the court after learning that Indiabulls Housing Finance was planning to change its name to Sammaan Capital.
Last year, Indiabulls Housing Finance changed its name to Sammaan Capital after considering the rebranding for more than a year. Indiabulls Commercial Credit changed its name to Sammaan Finserve. Other Indiabulls companies involved in trading, finance, and insurance also changed their names to include 'Sammaan'.
The single judge had in February ruled that Svamaan Financial had been using the 'Svamaan' mark commercially since at least 2019. Since Sammaan Capital was using its old name till at least June and began advertising the Sammaan mark only from July, it could not claim to have acquired goodwill and reputation in the mark, the judge said. However, the division bench of the court in an interim order had stayed the single judge's order and directed Sammaan Capital and Sammaan Finserve to state in all their advertisements that they were formerly known as Indiabulls Housing Finance Ltd. and Indiabulls Commercial Credit Ltd.
Svamaan Financial had a total loan book of INR 9.68 billion as of Aug. 31. Sammaan Capital's business primarily focuses on long-term secured mortgage-backed loans. The size of the company's balance sheet as of Mar. 31 was INR 730.66 billion.
On Wednesday, shares of Sammaan Capital ended 2.6% higher at INR 112.82 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Avishek Dutta
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