Shares of Alchemist, Alchemist Realty and Alchemist Corporation will come under pressure this week as SEBI ordered its group company Alchemist Infra Realty to wind up all collective investment schemes. Market regulator also ordered Alchemist Realty to refund the money collected from public investors within three months. Besides, the company and its five directors have also been barred from the securities market till the time all its schemes are wound up and the money is refunded to investors. SEBI had also warned the company and its directors of initiating prosecution proceedings and a criminal case for “offences of fraud, cheating, criminal breach of trust and misappropriation of public funds” if its orders are not complied with. While Alchemist is trading under normal window, other two counters - Alchemist Realty and Alchemist Corporation - are under period call auction, which SEBI introduced in April.
SEBI order may floor Alchemist group cos
June 23, 2013: