New Delhi, Aug. 19 -- Indiabulls, on Wednesday, 19 August, offered updates to exchanges on hearing in public interest litigation (PIL) against the promoter of the company, as the Supreme Court of India has ordered a Central Bureau of Investigation (CBI) probe into the allegations against Indiabulls Housing Finance (now Sammaan Capital) and its associated entities.

A public interest litigation filed by the Citizens Whistle Blower Forum way back in 2019 before the Delhi High Court alleged that Gehlaut had extended dubious loans worth about Rs.8,000 crore to major business groups, which then allegedly channelled those funds to promoter-owned entities to illegitimately build personal wealth. The case moved to the Supreme Court after the high...