Sammaan Capital Limited has received the NCLT order dated June 12, 2026, allowing the first motion application filed in relation to the proposed Scheme of Arrangement between the company and its wholly owned subsidiary Sammaan Finserve Limited. The order was uploaded on the NCLT website on June 12, 2026.
The NCLT, vide its order, has dispensed with the meeting of equity shareholders of Sammaan Finserve Limited, the Demerged Company. It has also dispensed with the meetings of secured and unsecured creditors of both Sammaan Capital Limited, the Resulting Company, and Sammaan Finserve Limited.
However, the NCLT has directed convening of a meeting of equity shareholders of Sammaan Capital Limited for approving the Scheme. The meeting is to be held through video conferencing or any other audio-visual means capable of being recorded.
The Scheme of Arrangement is between Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, and Sammaan Finserve Limited, along with their respective shareholders and creditors. Sammaan Finserve is a non-deposit taking NBFC-ICC registered with the Reserve Bank of India.
Sammaan Capital Limited has stated that it would be filing an application with the NCLT seeking certain clarifications and modifications with respect to the order. A certified copy of the order is awaited.
The order is available on the company website at https://www.sammaancapital.com/scheme-of-arrangement. The company had earlier intimated the exchange about the proposed scheme on December 31, 2025, April 22, 2026, and May 7, 2026.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.