sameer gehlaut

In one of the largest promoter-led fund infusion in the real estate sector in recent times, sameer gehlaut, the founder and promoter of Indiabulls Real Estate (IBREL) is investing Rs 538 crore to increase his stake in the company from 27% to 37% through preferential allotment.

sameer gehlaut, who co-founded the Indiabulls group 23 years ago, is stepping down as the chairman of the group’s flagship company Indiabulls Housing Finance (IBHFL).

sameer gehlaut, who co-founded the Indiabulls group 23 years ago, is stepping down as the chairman of the group’s flagship company Indiabulls Housing Finance (IBHFL).

Indiabulls Housing Finance’s main promoter sameer gehlaut is set to offload 11.9% in the company through block deals worth about Rs 1,450 crore. US private equity giant Blackstone is the anchor investor, while Abu Dhabi Investment Authority (ADIA) and some other large global investors are set to pick up the stake through block deals on Thursday, sources said.

sameer gehlaut, the main promoter of Indiabulls Housing Finance (IBHFL), the group’s flagship, on Wednesday stepped down as the chairman of the mortgage lender. S S Mundra, former RBI deputy governor and an independent director on IBHFL board since 2018, has taken over as its chairman.

New Delhi, Dec 11 () Indiabulls Ventures promoter sameer gehlaut and five other promoter entities have settled a Sebi probe into the alleged violation of 'takeover regulations' after paying Rs 48 lakh towards settlement fee.

Mortgage player Indiabulls Housing Finance (IBH) on Wednesday said former RBI deputy governor S S Mundra has been appointed as its non-executive chairman with immediate effect. Mundra had joined the board of IBH in 2018 as an independent director.

New Delhi, Dec 12 () Shares of Indiabulls Ventures Wednesday soared nearly 9 per cent after its promoter sameer gehlaut and five other promoter entities settled a case with market regulator Sebi.

New Delhi, Dec 12 () Shares of Indiabulls Ventures Wednesday soared over 17 per cent after its promoter sameer gehlaut and five other promoter entities settled a case with markets regulator Sebi.

In a deal worth nearly Rs 190 crore, two promoters of Indiabulls Financial Services increased their combined stake in the company by 1.1%, through open market operations.

Abu Dhabi's International Holding Company (IHC) will acquire a 41.2% stake in Sammaan Capital (formerly Indiabulls Housing) for Rs 8,850 crore, marking India's largest foreign investment in the NBFC sector. This $1 billion deal triggers an open offer, potentially increasing IHC's holding to 63.4% and classifying it as a promoter with board control.

Post the reorganization, the "Indiabulls" reference would be deleted from the power businesses.Rattan and Mittal would also step down from the board of IBHFL.

Blackstone, Embassy Eye Separate Transactions

Indiabulls Housing Finance has said in a statement that it has a Rs 662-crore exposure to Yes Bank’s additional tier-1 (AT1) bonds. These bonds are to be written off as proposed under the RBI’s resolution plan for the troubled lender.

Responding to the filing of a writ petition in the Supreme Court accusing its promoter sameer gehlaut of siphoning off funds, Indiabulls Housing Finance has termed the charges as “bizarre” and called it an attempt to blackmail. The petition alleges that Gehlaut diverted Rs 98,000 crore from the company, which has a Rs 90,000-crore balance sheet size.

Sources said that Gehlaut has conveyed to the ED that he left for the UK before summons were served on him and would not be able to join the investigation into whether he allegedly paid Rs 685 crore as bribe to Kapoor in exchange of loans from Yes Bank until travel restrictions remained in force.

The Securities and Exchange Board of India has deferred its order banning Indiabulls Securities from participating in the capital market.

Delhi high court on Friday decided to examine the allegations, in a PIL by an NGO, of financial irregularities, siphoning of funds and other violations against the promoters of Indiabulls Housing Finance. A bench of Chief Justice D N Patel and Justice C Hari Shankar issued notice to government, RBI and Indiabulls seeking stand on the petition filed by an NGO.

A PIL was filed in the Delhi high court on Friday seeking an SIT investigation into the alleged illegalities, siphoning of funds and violations committed by the promoters of Indiabulls Housing Finance Ltd (IBHFL).

"IHFLmade various transactions transferring even unencumbered shares.The best course available to IHFL would have been to approach this court seeking a clarification before it made the transfers," it said.

Indiabulls group is close to a deal that will see its exit from the real estate development space, one of the areas its name has been associated with for years. This would be a three-way deal involving Indiabulls group, Bangalore-based real estate major Embassy group and global private equity giant Blackstone.