Insolvency case against Alchemist recalled after ED's intervention

The National Company Law Tribunal has made headlines by overturning the insolvency proceedings against Alchemist Limited, spurred by the Enforcement Directorate's intervention that uncovered serious fraud and collusion issues. The tribunal determined that the insolvency mechanism had been exploited, with a notable ₹1,842-crore money laundering investigation concerning the Alchemist group still unfolding.