Archive · 23 Jul 2025
ED Attaches Assets in Alchemist Group Money Laundering Case
The government is investigating the Alchemist Group for taking money from people through fake investment schemes.
They promised high returns but didn't use the money as promised.
They used this money for things it shouldn't have, including building hospitals.
The government has seized assets worth over Rs 127 crore, like shares in the hospitals, because they believe the money was obtained illegally.
A former politician, Kanwar Deep Singh, is also involved and was arrested in 2021.
The government is trying to get the money back and punish those responsible.
ED attached assets worth Rs 127.33 crores related to the Alchemist Group in a money laundering case.
The attached assets are shares in Alchemist Hospital and Ojas Hospital in Panchkula, Haryana.
The ED investigation stems from an FIR against Alchemist Group for fraud and misappropriation of funds.
Kanwar Deep Singh, a former Rajya Sabha MP, was arrested by ED in 2021.
Misappropriated funds were used to acquire shares and construct hospitals, disguising the source of the funds.
- Who
- The ED, Alchemist Group, Karan Deep Singh, Kanwar Deep Singh, and investors.
- What
- ED attached assets in a money laundering probe involving the Alchemist Group.
- When
- The attachment was announced recently; Kanwar Deep Singh was arrested in 2021.
- Where
- Panchkula, Haryana (hospitals); Kolkata (initial FIR).
- Why
- For large-scale fraud and misappropriation of funds raised through deceptive investment schemes.
- Attached Assets Value
- Rs 127.33 Crores
- Attached Assets
- Shares in Alchemist Hospital and Ojas Hospital
- Location of Assets
- Panchkula, Haryana
- Beneficial Owner
- Karan Deep Singh
- ED Case Basis
- FIR by Kolkata Police & CBI
- Involved Parties
- Alchemist Group Directors & Promoters
- Funds Collected Illegally
- Approximately Rs 1,848 Crore