Vijay Singh
New Delhi [India], August 19: Indiabulls Limited has disclosed an update on proceedings related to a Public Interest Litigation concerning its erstwhile promoter, highlighting that all 197 loan accounts involving five borrower groups have been fully repaid and closed, with collections exceeding the sanctioned amounts.
The company made the disclosure on August 19, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
According to the Economic Offences Wing (EOW), Delhi, Status Report dated August 11, 2026, the total sanctioned amount across the five borrower groups stood at ₹8,267.86 crore, while gross collections reached ₹11,073.77 crore. The company said all 197 loan accounts have been fully repaid and closed, with interest and fees realised over the loan tenures exceeding ₹2,800 crore.
No Financial Loss Reported in Four Borrower Groups
The EOW Status Report recorded that, with respect to the DLF, Vatika, Chordia and Americorp groups, no financial loss was caused to the company. It also noted that loan disbursements and repayments were reflected in the company’s bank accounts.
The company’s disclosure further stated that examinations by SEBI, including its Investigation Department and forensic accounting wing, along with a National Housing Bank Special Audit, did not reveal diversion or abnormal retention of loan funds.
The report also records that the investments referred to in the allegations were made before the relevant borrowings from the company, with the stated timelines ranging from 17 months to more than two years. According to the disclosure, no financial trail or documentary evidence was found linking the company’s borrowed funds to those entities.
Reliance ADA Group Loans Also Fully Closed
The company said all seven loans to the Reliance ADA Group, aggregating ₹1,574 crore, have also been fully repaid and closed. However, the investigation concerning this group remains ongoing, according to the filing.
Company Highlights Credit Governance Framework
Indiabulls said the loans in question were sanctioned in the ordinary course of business by the company’s Credit Committee, comprising company executives and chaired by the Chief Executive Officer.
The filing further stated that Sameer Gehlaut, during his tenure as Chairman, was not a member of the Credit Committee and had no role in loan sanction or approval. The company also noted that he ceased to be a promoter in 2023.
