Alchemist Group is an Indian
conglomerate
Conglomerate or conglomeration may refer to:
* Conglomerate (company)
* Conglomerate (geology)
* Conglomerate (mathematics)
In popular culture:
* The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes
** C ...
which has a presence in multiple sectors, including
healthcare,
pharmaceuticals
A medication (also called medicament, medicine, pharmaceutical drug, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy (pharmacotherapy) is an important part of the medical field and ...
,
food-processing
Food processing is the transformation of agricultural products into food, or of one form of food into other forms. Food processing includes many forms of processing foods, from grinding grain to make raw flour to home cooking to complex industr ...
,
real estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...
,
infrastructure and
tea estates. It was founded by businessman turned politician K.D. Singh. The flagship company of Alchemist Group – Alchemist Limited is a publicly traded at
NSE &
BSE
BSE may refer to:
Medicine
* Bovine spongiform encephalopathy, also known as mad cow disease, a neurodegenerative disease of cattle
* Breast self-examination
Stock exchanges
* Bahrain Stock Exchange, Bahrain
* Baku Stock Exchange, Azerbaijan
* ...
. Multiple central and state government agencies in India including SEBI has barred many companies of Alchemist group for multiple violations. Securities Appellate Tribunal had earlier ordered Alchemist group to comply with
SEBI
The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance within the Government of India. It was established on 12 April 1988 as an execut ...
orders that had asked the company to refund an estimated Rs 1,000 crore collected from public through unauthorised
collective investment schemes
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages inc ...
(CIS). On August 7, 2015, Alchemist Capital was told to refund 165 crore with 15% interest for issuing 16.52 crore RPS of Rs 10 each amounting to Rs 165.21 crore up.
[{{Cite news, url=http://indianexpress.com/article/india/police-forms-sit-to-probe-cheating-case-against-alchemist-group-4581555/, title=Police forms SIT to probe cheating case against Alchemist group, work=Indian Express]
References
Conglomerate companies of India