Prateek Tanmay
3 min readNew DelhiJul 28, 2026 08:47 PM IST
The Supreme Court on Tuesday slammed the CBI and Economic Offences Wing (EOW) of Delhi Police over the lack of progress in investigation into allegations of round-tripping of funds, violations of the Companies Act, and siphoning of funds against the promoters of Indiabulls Housing Finance Limited (IHFL), now known as Sammaan Capital Limited.
A three-judge bench presided by Chief Justice of India Surya Kant initially proposed to summon the heads of the investigating agencies but did not do so after Additional Solicitor General S V Raju assured it that a status report will be filed.
“Owing to the negligence of CBI and EOW Delhi in not even filing a status report, and total failure to apprise this Court about steps taken for registration of RC (regular case) or investigation, we would have summoned the heads of these agencies but for the persuasion of ASG Raju, who assures that needful will be done and status report filed…”, the bench, also comprising Justices Joymalya Bagchi and V Mohana, said in its order.
The bench was visibly annoyed after Advocate Prashant Bhushan, appearing for the petitioners, said that following the CBI’s affidavit filed in the case in January this year, nothing had been brought on record to indicate the progress of the case.
Seeking the formation of a Special Investigation Team (SIT) to probe the matter, Bhushan also pointed out that one of the key accused, Sameer Gehlot, had moved to London.
“We are now in July end,” the CJI remarked, noting that no affidavit had been filed after the one lodged in January.
Senior Advocate A M Singhvi, meanwhile, said Gehlot had nothing to do with Sammaan Capital.
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Raju, who appeared for the CBI, said the probe is on and the Serious Fraud Investigation Office (SFIO) was pursuing it.
“What has CBI done from January to July?…Let them have courage to say because money (has been) returned, no offence is made out,” CJI Kant remarked.
ASG Raju said the witnesses were examined, adding that the agency is probing whether despite repayment of loans with interest, an offence had been committed.
To this, the bench asked, “Investigating agency doesn’t know?”
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The CJI termed the situation “shocking” and said the probe agencies had been “silent” despite the gravity of the charges.
The bench said it will hear the matter next after the status report is filed.
