This is further to our earlier intimations dated December 31, 2025, April 22, 2026 and May 7, 2026 with respect to the proposed Scheme of Arrangement, subject to the receipt of the requisite ....
M&A
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 13 Jun 2026, 04:01 PM IST · BSE ID: b78dbd5d-3bdf-44e5-b4da-211044090ddb
View Original BSE Filing (PDF)
💡
In Simple Terms
A court has approved the initial stage of Sammaan Capital's plan to separate its businesses into two companies.
🤖 AI Summary
- NCLT, New Delhi Bench, allowed the first motion application for Sammaan Capital's scheme of arrangement on June 12, 2026.
- Scheme involves Sammaan Capital Limited (Resulting Company) and Sammaan Finserve Limited (Demerged Company).
- NCLT dispensed with meetings for equity shareholders of the Demerged Company and all creditors.
- Meeting of Sammaan Capital's equity shareholders is directed for approving the Scheme via video conferencing.
- Sammaan Capital will file an application with NCLT for clarifications/modifications regarding the Order.
🏢 How This Affects the Company
This NCLT order allows Sammaan Capital to proceed with its proposed scheme of arrangement, enabling the formal separation of Sammaan Finserve Limited's business.
The scheme's progression sets the stage for a change in Sammaan Capital's operational structure by demerging Sammaan Finserve Limited.
The requirement for Sammaan Capital to seek clarifications/modifications on the NCLT order introduces a procedural step that could extend the timeline for the scheme's finalization.
👥 What This Means For Shareholders
✅
Action Required
Shareholders of Sammaan Capital Limited should monitor for the notice and details regarding the directed meeting of equity shareholders for scheme approval.
👤
Who Is Affected
Equity shareholders of Sammaan Capital Limited will be required to participate in a meeting, via video conferencing, to vote on the approval of the Scheme of Arrangement. Equity shareholders of Sammaan Finserve Limited have their meeting dispensed with.
🔍
Management Signal
Management is progressing with its previously announced scheme of arrangement and is actively seeking required regulatory and judicial approvals for the demerger.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Announcement of date and agenda for Sammaan Capital's equity shareholders' meeting.
Outcome of Sammaan Capital's application to NCLT for clarifications/modifications.
Further NCLT orders and final approvals for the scheme of arrangement.
MEDIUM RISK
The scheme of arrangement requires further shareholder approval and potential NCLT clarifications, indicating ongoing procedural steps.
💡 Investor Takeaway
The NCLT, New Delhi Bench, issued an order on June 12, 2026, allowing the first motion for Sammaan Capital's scheme of arrangement. This advances the demerger process, dispensing with several stakeholder meetings, but requires a meeting of Sammaan Capital's equity shareholders for approval.
⚖️ Strengths & Concerns
✅ Positives
- NCLT's allowance of the first motion application indicates regulatory progress for the proposed scheme of arrangement.
- Dispensing with creditor meetings streamlines the approval process for the scheme, removing a procedural hurdle.
⚠️ Concerns
- Sammaan Capital plans to file for clarifications/modifications, indicating potential ambiguities in the NCLT's June 12, 2026 order.
- The scheme's finalization is still contingent on approvals from Sammaan Capital's equity shareholders and further NCLT orders.
📅 Company Track Record
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) has seen significant developments in 2026, including International Holding Company PJSC (IHC) completing an investment of INR 8,850 Crore on May 15, 2026, making IHC a promoter. RBI also issued a 'no objection' for its NBFC business transfer scheme on May 7, 2026.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the key update regarding Sammaan Capital's scheme of arrangement?
The National Company Law Tribunal (NCLT), New Delhi Bench, issued an order dated June 12, 2026, allowing the first motion application for Sammaan Capital's proposed scheme of arrangement.
Which entities are involved in Sammaan Capital's scheme of arrangement?
The scheme of arrangement is between Sammaan Capital Limited (Resulting Company) and Sammaan Finserve Limited (Demerged Company), along with their respective shareholders and creditors.
What did the NCLT order dated June 12, 2026, specify regarding shareholder and creditor meetings?
The NCLT dispensed with meetings for equity shareholders of the Demerged Company and all secured and unsecured creditors. It directed convening a meeting for Sammaan Capital's equity shareholders to approve the scheme.
Will Sammaan Capital seek further actions regarding the NCLT order?
Yes, Sammaan Capital Limited will file an application with the NCLT to seek certain clarifications or modifications with respect to the Order dated June 12, 2026.
Questions based on this BSE filing only. For information purposes.