Alchemist insolvency proceedings were a ‘self-controlled loop’. How ED’s findings guided NCLT action
New Delhi: The National Company Law Tribunal (NCLT), on 3 February, terminated Alchemist Limited’s insolvency proceedings, observing that the committee of creditors (CoC) remained dominated by the same group of entities that were the alleged conduits and beneficiaries of the proceeds of crime of the firm, which operates pharma, agri, and hospitality businesses. Former Rajya…

