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The Times of India

Top News / The Times of India

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NCLT recalls order awarding Alchemist to sister concern

The withdrawal of the corporate resolution order by NCLT, a rare occurrence, happened after Enforcement Directorate approached the Delhi bench with evidence of money laundering by the group and how the promoters had allegedly created a front entity with proceeds of crime, making it a financial creditor with 97% voting rights to grab the firm under insolvency proceedings.

6 Feb 2026 4:34 am