Duped Investors Move High Court Against Alchemist Group

GUWAHATI: Investors in the Alchemist Group of Companies, who were allegedly duped on Thursday, moved the Gauhati High Court and filed a PIL seeking the court’s intervention in returning their money.

The Chandigarh-based Alchemist Group of Companies with its regional office in Kolkata, operated in Assam in between 2006 and 2015. During its operation, the company had reportedly collected about Rs 3000 crore from about 5 lakh investors of the State by promising them high return on their investment. The company suddenly stopped its operation in the State in 2015 without returning money to its investors.

Finding no other option to get back their hard earned money, the investors on Thursday filed a PIL in the Gauhati High Court with a plea to work out a legal mechanism to compel the Alchemist Group of Companies to return their money. The Kolkata High Court has already constituted a high-powered one man committee to ask the Alchemist Group to return money to investors in West Bengal. The investors in Assam will make a plea before the Gauhati High Court to issue similar order like that of Kolkata High Court once the PIL is admitted.

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