Supreme Court Delays Indiabulls Investigation: Allegations Under Scrutiny

The Supreme Court has deferred its hearing regarding allegations against Indiabulls Housing Finance Limited, now Sammaan Capital Limited, amid accusations of questionable lending practices. The Central Bureau of Investigation (CBI) informed the court they found no irregularities in the company's operations while the Enforcement Directorate continues its own probe into financial misconduct.

Senior advocates defending the company dismissed the allegations as baseless and revealed that the accusing NGO, Citizens Whistle Blower Forum, had retracted multiple petitions. However, the Supreme Court bench acknowledged that accusations must still be thoroughly examined to determine their validity.

Recent claims by advocate Prashant Bhushan suggest a financial scam involving scheme funds being rerouted to company promoters. Meanwhile, the court has noted the Ministry of Corporate Affairs and SEBI's acknowledgment of potential irregularities. As investigations proceed, pressure mounts for a transparent resolution.

(With inputs from agencies.)