The Supreme Court on Tuesday pulled up the CBI and the Economic Offences Wing (EoW) of the Delhi Police for failing to file an updated status report on allegations of round-tripping and diversion of funds worth several crores involving Indiabulls Housing Finance Limited, now operating as Samman Capital Limited.
A bench comprising Chief Justice Surya Kant, Justice Joymalya Bagchi and Justice V. Mohan initially directed the CBI director and the EoW chief to appear before it.
However, the court later dropped the direction after additional solicitor-general S.V. Raju assured the bench that both agencies would submit an updated status report before the next hearing.
The matter has now been adjourned by four weeks.
The apex court had earlier asked the Enforcement Directorate (ED) and the ministry of corporate affairs to file their responses to the allegations of round-tripping and diversion of funds by the company.
The allegations stem from a petition filed by NGO Citizens Whistleblowers Forum, represented by advocate Prashant Bhushan. The NGO has accused the company of carrying out massive fraudulent transactions by extending loans worth several hundred crores to shell companies, which were allegedly routed back to fictitious firms promoted by the company’s owners.
Bhushan also alleged that the company’s founder, Sameer Gehlaut, had fled to London and failed to respond to summons issued by the CBI.