In response to a notice issued by Supreme Court on a plea seeking an SIT probe into alleged siphoning of funds by promoters of erstwhile Indiabulls Housing Finance, now known as Sammaan Capital, Sebi said it had examined the impugned transactions “whereby certain violations of Sebi (LODR) Regulations, 2015, were observed”. For this, an administrative warning was issued to Indiabulls Housing Finance, and RBI and corporate affairs ministry were informed about it, the markets regulator said.
Though IBHFL, being a housing finance company, falls within the regulatory purview of National Housing Bank and RBI, Sebi had examined some transactions of the company as referred to it and there was violation of regulation, according to the regulator.
The response was filed on a petition filed by NGO Citizens Whistle Blower Forum, seeking an investigation into allegations of illegalities, violations and siphoning of funds by the former promoters of IBHFL.
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