Overview
- On 3 February, the tribunal recalled the CIRP, lifted the Section 14 moratorium, and nullified the resolution professional’s appointment and prior decisions.
- A Rs 5 lakh penalty was levied on operational creditor Sai Tech Medicare after the case was found to be filed with malicious intent.
- ED submissions showed the CoC was controlled by Alchemist group entities, with Technology Parks Ltd holding about 97% voting rights and an ex‑employee, Gaurav Misra, serving as RP.
- Investigators allege group firms collected over Rs 1,840 crore from the public and diverted funds; ED has filed three prosecution complaints and attached assets worth about Rs 492.72 crore, including two hospitals in Panchkula.
- The order bars misuse of the insolvency framework to seek Section 32A immunity, preserving ED attachments and prosecutions under the PMLA.