Indiabulls Promoter PIL Dismissed; Supreme Court Petition Filed

Indiabulls Ltd has provided an update on a Public Interest Litigation (PIL) filed in 2019 by Citizens Whistle Blower Forum. The Delhi High Court dismissed the PIL on February 2, 2024, finding allegations of lending irregularities and quid pro quo against the promoter unsubstantiated. The petitioner has since filed a Special Leave Petition (SLP) before the Supreme Court. Concurrently, an FIR was registered by the Economic Offences Wing (EOW) based on a Directorate of Enforcement complaint. A status report from the EOW dated August 11, 2026, indicates all 197 loan accounts, totaling ₹8,267.86 crore sanctioned, have been fully repaid with interest, exceeding ₹11,073.77 crore in collections. The report found no financial loss to the company and no evidence of fund diversion or quid pro quo for four borrower groups. Investigation into the Reliance ADA Group loans is ongoing, while the Yes Bank matter is also under further investigation.