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Decide in a week on forming SIT to probe Indiabulls loan irregularities: Supreme Court to CBI

On Wednesday, Additional Solicitor General S V Raju informed the court that the Economic Offences Wing (EOW) of the Delhi Police has filed an FIR in the matter.

2 min readNew DelhiUpdated: Dec 18, 2025 08:30 AM IST

Supreme Court, Indiabulls loan irregularities, Indiabulls, loan irregularities, Supreme Court to CBI, Indian express news, current affairs

On Wednesday, Additional Solicitor General S V Raju informed the court that the Economic Offences Wing (EOW) of the Delhi Police has filed an FIR in the matter.

The Supreme Court on Wednesday asked the CBI Director to decide within one week on forming a Special Investigation Team (SIT) to probe the alleged irregularities by Indiabulls Housing Finance Ltd (now known as Sammaan Capital Ltd) with respect to “quid-pro-quo arrangements” in loans given to corporate groups.

Perusing an affidavit filed by the CBI, a two-judge bench presided by Chief Justice of India Surya Kant said it did not want to comment on what it was doing till now, and added, “however taking into consideration the averments made in the affidavit that various documents are being received/have been received from various agencies, including a fresh complaint from the ED on December 15, we direct the CBI Director to take a final call within one week and submit a fresh affidavit of compliance on the date fixed.”

Hearing a PIL by the Citizens Whistle Blower Forum, the court had on November 17 questioned CBI and SEBI for their alleged “reluctance” to probe the allegations against IHFL and asked the agency Director to hold a meeting with the market regulator, SFIO and ED to look into it.

On Wednesday, Additional Solicitor General S V Raju informed the court that the Economic Offences Wing (EOW) of the Delhi Police has filed an FIR in the matter.

The CBI affidavit also said its Director, had on December 3, convened a meeting which was attended by the Director, Enforcement Directorate, besides representatives from SEBI and SFIO.

The CBI affidavit said that “…Delhi Police has registered an FIR in this matter. Therefore, the Enforcement Directorate can now commence its investigation in the matter on the basis of the predicate offence registered by Delhi Police. Thus, investigation into the affairs of M/s Indiabulls Housing Finance Ltd., has already commenced.”