Mumbai: Special Court Rejects CBI Plea For Further Probe Against Indiabulls Housing Finance, IVL Finance In Yes Bank-DHFL Case

Mumbai, September 8, 2026: The special court has refused to allow the CBI to further investigate against Indiabulls Housing Finance Ltd (IHFL) and M/s. IVL Finance Ltd (VIL FL), in connection with their alleged transaction with Yes Bank, observing that no sufficient material was produced to order a further probe.

The CBI had sought further investigation against IHFL and VIL FL in connection with the Yes Bank and DHFL loan case. The CBI has claimed that there is money laundering of a sum of Rs 1,574 crore in respect of Yes Bank and DHFL, which can be traced to various groups of companies and ultimately to IHFL and IVL FL.

Visit michezonews.co.za for more information.

The probe was sought citing a petition filed by Citizen Whistle Blower Forum before the Supreme Court, and the agency said it was not aware of the petition earlier.

Earlier Chargesheet Against Firms

It is to be noted that CBI had in 2024 submitted a fourth supplementary chargesheet in connection with the Yes Bank and DHFL case, adding the two firms — Indiabulls Housing Finance Ltd and IVL Finance Ltd — as the accused.

The special court had, however, in March 2025 refused to take cognisance against them. The order, however, is challenged by CBI before the High Court, which is still pending for hearing.

The agency, however, while seeking to allow further probe against the two firms, claimed that the forum has in its application said that IHFL was indulged in fraudulent transactions of loans worth thousands of crores involving different companies and allegedly it has siphoned off a huge amount of money through a complex web of such companies for the benefit of these companies, which are owned by promoters of M/s. IHFL. There are also dubious loan transactions between these groups of companies and Yes Bank, CBI claimed.

Company Opposes Further Probe

The plea was opposed by Dhani Loans and Services Limited, which has taken over erstwhile M/s. IHFL & M/s. IVL FL and now stepped into their shoes. It was contended that any order against the two would affect them now. Besides, the company pointed out at the affidavit submitted by CBI before the Supreme Court in July 2025.

The court, considering this, noted that, "The CBI specifically mentions that, there was no direct allegation with regards to diversion/siphoning of funds by M/s. IHFL or its earlier promoters and there is no loss of any public money by the alleged act of M/s. IHFL, so also there is no prima facie criminal act. It is seen that at one point the CBI files an affidavit about prima facie no criminal act and on other hand, seeks further investigation."

"At one point of time, the prosecution files an affidavit that there is no loss of public money and, in the second breath, seeks further investigation against same Accused persons. Moreover, nothing has been submitted by the SPP in respect of this affidavit as pointed out by the Applicant-Intervenor. The prosecution cannot sail on two boats at the same time," the court said.

Also Watch:

Mumbai Sessions Court Denies Bail To Brothers In Railway Ticket Fraud Case Over Alleged Forged Lok Bhavan Letters

Court Rejects Further Investigation

Besides, the court also referred to the order passed by the special court in March 2025, refusing to take cognisance of the chargesheet against them, and said, "the order is itself clear as to why the cognizance is not taken against them. The material which is placed on record, does not show anything which could trigger that further investigation is required."

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/

Read full story at source