Sammaan Capital Clarifies No Accusation in PIL Investigations

Sammaan Capital Limited (SCL) has issued a press release clarifying its position regarding an ongoing Public Interest Litigation (PIL). The company states it is not an accused in any investigations stemming from the PIL, but rather a victim of alleged quid pro quo arrangements. An FIR was registered by Delhi Police's EOW, naming several groups and individuals, but SCL was not among the accused. A recent status report filed with the Supreme Court confirms SCL has received back all monies related to loans to the mentioned groups. The Supreme Court has now directed the CBI to examine the allegations. SCL also highlights that it has been absolved of wrongdoing by multiple statutory agencies over the past seven years, including MCA, NHB, SEBI, RBI, and EOW. The company has also undergone a promoter change, with International Holding Company PJSC (IHC) now controlling the board and committing a USD 1 billion investment.