Archive · 31 Oct 2025
ED Attaches Shares in Panchkula Hospitals Linked to Alchemist Group Fraud
Imagine a company called Alchemist Group took a lot of people's money, promising them big rewards or property.
But instead of using the money as promised, they allegedly misused it for their own purposes, like building hospitals.
Now, a special government agency called the Enforcement Directorate is investigating this.
They have frozen or 'attached' shares in two hospitals, Alchemist Hospital and Ojas Hospital, worth over 127 crore rupees.
This is because they believe these shares were bought with the money that was taken unfairly from investors.
The investigation is looking into how the group allegedly tricked people and laundered the money to hide where it came from.
The person whose shares were attached is Karan Deep Singh, who is believed to be a key figure in this scheme.
The Enforcement Directorate (ED) has attached shares worth Rs 127.3 crore in Alchemist Hospital and Ojas Hospital in Panchkula.
The attachment is part of a money laundering investigation into the Alchemist Group for alleged fraud and misappropriation of public funds.
The Alchemist Group is accused of illegally collecting approximately Rs 1,848 crore from investors through fraudulent schemes.
The misappropriated funds were allegedly used to acquire shares and fund the construction of Alchemist and Ojas Hospitals.
The ED has previously attached properties worth Rs 365.42 crore in connection with this ongoing investigation.
- Who
- The Enforcement Directorate (ED) and M/s Alchemist Group, its directors, promoters, and associated entities, including Karan Deep Singh.
- What
- The ED attached shares worth Rs 127.3 crore in Alchemist Hospital and Ojas Hospital as part of a money laundering investigation into the Alchemist Group for alleged large-scale fraud and misappropriation of public funds.
- When
- The ED initiated its investigation based on an FIR originally registered by Kolkata Police and later taken up by CBI. A Prosecution Complaint was filed in 2021, with supplementary complaints in 2024 and 2025. The current attachment is a recent action.
- Where
- Panchkula, specifically concerning Alchemist Hospital and Ojas Hospital. The investigation originated from a case initially handled by Kolkata Police and CBI, ACB Lucknow.
- Why
- To investigate alleged large-scale fraud, misappropriation of public funds, and money laundering by the Alchemist Group through fraudulent Collective Investment Schemes that illegally collected approximately Rs 1,848 crore from investors.
- Total Value of Attached Shares
- Rs 127.3 crore
- Hospitals Involved
- Alchemist Hospital and Ojas Hospital, Panchkula
- Beneficial Owner of Shares
- Karan Deep Singh
- Alleged Fraud Amount
- Rs 1,848 crore
- Investigating Agency
- Enforcement Directorate (ED)
- Basis of Investigation
- Money laundering investigation into M/s Alchemist Group