Sammaan Capital Limited has informed the Exchange regarding 'Summary of Proceedings of Meeting of Unsecured Creditors of Sammaan Capital Limited ( the Company ) held on Tuesday, June 10, 2025 pursuant to the directions of National Company Law Tribunal, New Delhi Bench, vide its Order dated January 27, 2025 and Rectification Order dated April 1, 2025.For details, refer attachment.'.
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Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) held a meeting of its unsecured creditors on June 10, 2025, as directed by the NCLT New Delhi Bench. The purpose was to seek approval for a Scheme of Arrangement to merge six group companies — Sammaan Collection Agency, Sammaan Sales, Sammaan Investmart Services, Indiabulls Capital Services, Sammaan Advisory Services, and Sammaan Insurance Advisors — into Sammaan Capital Limited under Sections 230-232 of the Companies Act, 2013. The required quorum of 22 unsecured creditors was not met initially, so the meeting was adjourned for 30 minutes and then commenced at 10:31 AM. No unsecured creditor registered to speak on the scheme. E-voting was conducted between June 2 and June 9, 2025, with results to be declared within two working days.
This is a routine procedural step in the company's internal group restructuring/consolidation, not an insolvency action. Voting outcomes will determine if the amalgamation moves forward, but near-term impact on shareholders is expected to be neutral as it involves merging subsidiaries into the listed parent.