The Supreme Court on July 28, 2026, expressed strong displeasure over the delay in the investigation into alleged financial irregularities involving Indiabulls Housing Finance Limited (IHFL), now known as Sammaan Capital Limited. The Court pulled up both the Central Bureau of Investigation (CBI) and the Delhi Police Economic Offences Wing (EOW) for failing to submit a status report despite earlier judicial directions.
A Bench of the Supreme Court questioned what progress had been made in the investigation over the past several months and sought explanations from the concerned agencies regarding the continued delay. The matter pertains to allegations of dubious financial transactions, corporate governance violations, and alleged misconduct involving the company and its promoters.
During the hearing, the Court noted that investigative agencies are expected to act diligently in matters involving allegations of large-scale financial wrongdoing. The Bench expressed concern that the absence of a status report hindered judicial oversight and delayed the pursuit of accountability.
The proceedings are part of a broader legal scrutiny that has surrounded the former Indiabulls Housing Finance entity, which was renamed Sammaan Capital. The Supreme Court has previously questioned the approach adopted by investigating and regulatory authorities in examining the allegations and has emphasized the need for an objective and comprehensive probe.
The Court directed the concerned agencies to place the necessary material on record and indicated that delays in compliance with judicial directions would not be viewed lightly. The matter is expected to be taken up again after the agencies file their reports.
The case highlights the judiciary's continuing role in monitoring investigations involving significant financial and corporate governance allegations, while reinforcing the obligation of investigative agencies to ensure timely compliance with court orders.