Sebi found prima facie evidence of loans being granted by IHFL, then controlled by Sameer Gehlaut and other NBFCs, to promoter entities of each other on quid pro quo basis and reported these to the banking regulator in 2022; Sammaan Capital says loans to SPVs backed by strong promoters were common practice in real estate business and were not prohibited by regulations and has no connection with Gehlaut.
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