Sammaan Capital Limited has informed the Exchange regarding 'Notice of Meeting of Unsecured Creditors of Sammaan Capital Limited (Formerly Known as Indiabulls Housing Finance Limited) ( the Company ) pursuant to Order dated January 27, 2025, of the Hon ble National Company Law Tribunal, New Delhi Bench ( NCLT ), in the matter of scheme of arrangement for amalgamation of six wholly owned subsidiaries with the Company.For details, refer attachment.'.
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Sammaan Capital has called a meeting of its unsecured creditors on June 10, 2025 (via video conferencing) to seek their approval for the amalgamation of six wholly owned subsidiaries into the company. This follows an NCLT (New Delhi Bench) order dated January 27, 2025, directing the company to convene such meetings as part of the scheme of arrangement. E-voting for unsecured creditors will run from June 2 to June 9, 2025, with a cut-off date of March 31, 2025. KFin Technologies has been appointed as the e-voting facilitator. The notice and explanatory statement have been sent electronically or by registered post to all unsecured creditors.
This is a procedural step in an ongoing internal restructuring — merging wholly owned subsidiaries into the parent. There is no immediate impact on shareholders since the subsidiaries are already entirely owned by Sammaan Capital, and the move could simplify the corporate structure and reduce costs over time.