Sammaan Capital Limited has informed the Exchange regarding 'Summary of Proceedings of Meeting of Secured 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 Secured Creditors on June 10, 2025, as directed by the National Company Law Tribunal (NCLT), New Delhi Bench. The meeting was called to seek creditor approval for a Scheme of Arrangement that would 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 144 Secured Creditors was not met initially, so the meeting was adjourned by 30 minutes and resumed at 12:31 PM, concluding at 1:11 PM. E-voting was open from June 2 to June 9, 2025, and no creditor registered as a speaker to raise objections. Voting results will be declared within two working days.
This is a procedural step in an internal group restructuring/amalgamation. The actual outcome (whether secured creditors approved the scheme) is still pending. Shareholders should watch for the voting results, as creditor approval is a key milestone before the merger can move forward to NCLT's final sanction. No direct impact on share price is expected until results are declared.