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Informist, Tuesday, Aug. 18, 2026

 

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--Sammaan Cap: Got clean chit from all probe agencies Tue 
--Sammaan Cap: No ED allegations on co, only on ex-promoter 
--Sammaan Cap: ED stated co is a victim, not an accused in fraud case
--Sammaan Cap: CBI will be probing a case against ex-promoter Sameer Gehlaut
--Sammaan Cap: SC noted clear distinction between co and ex-promoter Gehlaut
--Sammaan Cap: Co-operating with agencies on probes linked to ex-promoter

 

NEW DELHI – Sammaan Capital Ltd., in a press release, said that it has got a complete and total comprehensive clean chit from all the probe agencies and this has been recorded in court. Sammaan Capital said that there are no allegations against the company and the apex court has asked the Central Bureau of Investigation to probe into allegations against his former promoter Sameer Gehlaut.

 

The Enforcement Directorate has said very clearly that Sammaan Capital was a victim, said the company. There is a first information report in which the Central Bureau of Investigation will probe against the erstwhile promoter, and Sammaan Capital is not an accused but a victim, it said. "After receiving clean-chits as far as Sammaan Capital Limited is concerned, the matter is over, the company is not, and has never been, an accused in this case. As with other instances of banks and NBFCs (non-banking financial companies) facing allegations against former promoters or key management personnel, the Company, being larger than any individual, continues to move forward, cooperating fully with the authorities on any investigations concerning the erstwhile promoter and others," it said.

 

Since ceasing to be promoter and divesting his entire shareholding in the company in 2023, Sammaan Capital has had no connection whatsoever with its erstwhile promoter Gehlaut, said the company. A clear distinction between Sammaan Capital and Gehlaut has been firmly established and acknowledged by the Supreme Court, it said. The Supreme Court had earlier clarified that it has not expressed any opinion on the merits of the allegations made against the company, and it reiterated the same position again Tuesday, it said.

 

Hearing a petition for a probe into irregularities and siphoning of funds by Sammaan Capital Ltd.'s former promoters, the Supreme Court Tuesday asked the Central Bureau of Investigation to probe all six allegations flagged by the Enforcement Directorate regarding the company and its related entities. The Central Bureau of Investigation will probe the five transactions relating to the company and its officials, which were looked at by the Delhi Police's Economic Offences Wing, saying it would not be guided by the latter's conclusions.  

 

In addition, the apex court directed the special court under the Prevention of Money Laundering Act, 2002, in Mumbai to decide within two weeks the Central Bureau of Investigation's plea for further investigation into an INR 15.74 billion transaction forming the sixth allegation. The top court asked both the Central Bureau of Investigation and Economic Offences Wing to file fresh status reports on the same. 

 

Petitioner Citizens Whistle Blower Forum had said that Sammaan Capital had been extending huge loans to various companies, which in turn had been routing a substantial part of the money as investment in companies belonging to key shareholders and promoters of Sammaan Capital, including Sameer Gehlaut, the company's founder and chairman. Since the money was essentially borrowed from public and private sector banks, "thousands of crores of public money seem to have been siphoned out by the company in order to financially benefit its promoters", said the petitioner. 

 

Tuesday, the shares of Sammaan Capital Ltd. ended 2.0% lower at INR 150.23 on the National Stock Exchange.  End

 

Reported by Surya Tripathi

Edited by Akul Nishant Akhoury

 

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