Shares of Sammaan Capital Ltd., known earlier as Indiabulls Housing Finance fell as much as 13% on Wednesday, November 19, after the Supreme Court ordered the Central Bureau of Investigation (CBI) to file an FIR in the case against the company.

The Supreme Court questioned the "friendly approach" by the CBI and the MCA in investigating allegations of Indiabulls Housing Finance. The apex court also questioned market regulator SEBI's reluctance to investigate and also questioned the "double standards" of the regulator, even after being given jurisdiction by the top court to probe allegations against the company.

CBI has also been asked to file a response to clarify the stance, adding that it will strengthen the hands of the Enforcement Directorate. The ED, in response, has assured a joint

See Full Page