Thursday, November 2, 2023

Is the Hon'ble Supreme Court being taken for a Royal Ride by Heera Group?

 


To all those connected with/following the Heera Group case in the Hon'ble Supreme Court of India.

Re:  W.P.(Crl.) No. 31/2020 in the Hon'ble Supreme Court of India.
Re:  Criminal Appeal No(s). 761-762/2021 in the Hon'ble Supreme Court of India.

With regards to the Heera Gold scam case currently being heard in the Hon'ble Supreme Court, please allow me to bring to your kind attention the following:

Earlier, there were multiple buyers and then we got a name (First Buyer Company) First Mahi Antiques and Rare Earths Pvt. Ltd. in the July 27, 2023, SC Record of Proceeding.  We got a second name (Second Buyer Company) RIPE Antrashtriya Dharmik Nyas Parishad in the August 21, 2023, SC Record of Proceeding.  Then we got a third name C.K. Maula Sharif (Individual Buyer) who is supposed to be the Buyer.  Now, C.K. Maula Sharif is blaming RIPE Antrashtriya (Second Buyer Company) to be responsible for the confusion in the Hon'ble Court and is begging for pardon.  First Mahi is no longer is picture.

In Maula Sharif's affidavit submitted on October 30, 2023, he has put forward his company name CMM Hindustan Gold Pvt. Ltd., claiming to be a director/partner in this company.  This is completely not true. Zauba Corp website shows Mahaboob Sab Mahamud Sabi and Police Syed Mohiddin Ameerulla to be directors of CMM Hindustan Gold Pvt. Ltd. and there is no mebtion of C.K. Maula Sharif.

Maula Sharif goes on to submit bank statements of the company CMM Hindustan Gold Pvt. Ltd., claims to be the founder of a trust by the name of C.K. Maula Shariff Foundation, claims to be the president of a credit co-op society by the name of Shri Gopalakrishna Souharda Credit Co-Op Society Ltd., and we get nothing but a few more names.  The company bank account that he had forwarded claiming to be his, is not his.  Heera Group is using him to buy time.  They want to stretch this to until the retirement of Hon'ble Justice Kaul, and if that happens, we investors lose all hope.

I am listing you some hard facts that reflect the profile of C.K. Maula Sharik and why he should be punished for misleading the Hon'ble Apex Court and should only be considered to be an implant done by Nowhera Shaik (Heera Group) with the intention to delay this issue.  Nowhera Shaik does not intend to pay us; it is clear.

1.  C.K. Maula Sharif was director in "Hindustan Gold Pvt. Ltd.," a company that has been struck off from ROC by MCA.  He is not a director/partner in "CMM Hindustan Gold Pvt. Ltd."  The directors are his relatives, one of them is his father Mahaboob Sab Mahamud Sabi.

https://www.zaubacorp.com/company/CMM-HINDUSTAN-GOLD-PRIVATE-LIMITED/U51909KA2017PTC108276

2.  Maula Sharif has submitted Bank Statements in Supreme Court of CMM Hindustan Gold Pvt. Ltd., a company that does not belong to him.

3.  Maula Sharif has cases registered against him, one of which is FIR No. 0156/2018 in JC Nagar PS, Bengaluru City - IPC 1860 (U/s-468,471,420).  This FIR also includes name of Mohammed Sabi (director of CMM Hindustan Gold Pvt. Ltd.).

Link #1 - https://indiankanoon.org/doc/128453170/
Link #2 - https://www.the-laws.com/encyclopedia/browse/case?caseId=019102849200&title=moula-shariff-vs-state-of-karnataka

4.  There are several bad reviews on Hindustan Gold on the internet on Hindustan Gold Pvt. Ltd. a company owned by C.K. Maula Sharif, struck off from ROC by MCA, after which a new company under the name CMM Hindustan Gold Pvt. Ltd. was created minus C.K. Maula Sharif as director for the purpose of carrying out the same business that they been carrying out.

https://www.mouthshut.com/product-reviews/Hindustan-Gold-Company-reviews-925922284
https://m.mouthshut.com/review/Hindustan-Gold-Company-review-qunpusopurn

C.K. Maula Sharif mentioned in SC that he had Rs. 200 crores in the bank, but then gave it out as advance for some project - No proof of that transaction submitted.  His vakalatnama states that he is the founder/director of Hindustan Gold Pvt. Ltd. (struck off) and not CMM Hindustan Gold Pvt. Ltd.  They are playing with words.  He claims to be owning properties worth Rs. 900 crores and have provided a typed out list, not something from property Registrars' offices.

Earlier on, Nowhera Shaik had claimed that she had settled claims of 8000 investors and Hon'ble ASG of India, Shri. S.V. Raju had asked SFIO to verify this claim of having paid 8000 investors.  SFIO had written to Nowhera Shaik asking her to provide details in the form of an excel sheet with bank transaction details and other necessary proof of payment.  This was around two years ago and still no progress on it.

More than 500 investors had impleaded in the Hon'ble Supreme Court, more than 12,000 investors have registered their claims with SFIO per the directions of the Hon'ble Supreme Court, Nowhear Shaik has not been questioned yet to provide proof of the 8000 investors that she claimed to have settled, a few bank accounts have been opened up for the purpose of paying investors, she has been given back attached properties to reside (MLA colony residence) and her offices to becoming functional again, more than 2 years 6 months have passed she is out on bail, almost a year since she has introduced the so-called buyers, and what have we all got to today?

We are losing hope seeing how criminals can play with the system using words, fabricating stories, capitalizing on the current over-burdened state of our judiciary, taking dates every now and then.  It's a Rs. 5600 crore scam for God's sake, but we are being made to believe that it is so damn easy to escape the law in our country.  We investors have come to position where we no longer look forward for recovery.  All we want to see is Justice win this fight.  We want Justice to win so that we continue to have faith on it.  But unfortunately, we can't see that happening.

How can these criminals gather so much courage as to even attempt to mislead the Apex Court.  Somebody in power needs to wake up on it and deliver.

Y. Sayed

Sunday, April 30, 2023

NONCOMPLAINANTS | FROM JANUARY 2020 BAIL UNTIL NOW

 


DATE AND EVENTS

1.  Six-month settlement promise to Noncomplainants from date of bail.
2.  Promise to hold a general meeting after bail.
3.  Issues with Data not received from CCS.
4.  Claims of having paid more than 8000 complainants and noncomplainants, compliance report.
5.  Link #1 for noncomplainants - Withdrawal, Partial Withdrawal, Continue.
6.  Promise to pay - August, September, October.
7.  Link #2 for noncomplainants for crypto coin.
8.  Passing away of last date to claim, November 30, 2022
9.  Promise to pay - January, February, March.
10.  Need court order to pay noncomplainant.


REASON FOR INABILITY TO PAY PUT FORWARD BY HEERA GROUP:

JANUARY 11, 2020 UNDERTAKING
Point No. 3:
1.  Heera Group accepts taking investments.
2.  Claims Fake FIRs, politically motivated.
3.  Cites Demonetization as a reason for delay of payment to genuine investors.


Point No. 8:
1.  Promises to pay entire amount of complainants in six weeks.
2.  Promises to pay entire amount of noncomplainants in six months.

Point No. 9:
1.  Promises to call for an AGM (Annual General Meeting) to find out on Withdrawal Requests and pay within six months after tallying of records.



Saturday, November 12, 2022

SFIO Report Summary November 11, 2022 | Heera Gold Victims Thank SFIO & Sarath Associates

 


HEARING SUMMARY: - SFIO said 400 crores worth claims registered. - SC asked Heera to deposit 400 crores. - Heera says we have surrendered properties. - SFIO said Income Tax authorities say properties are only worth 100 cr. - Heera said properties are worth more and we have buyer. - SC said bring forward your buyer. And again mentioned to SFIO that the depositing of Rs. 400 crore should be priority. SFIO AFFIDAVIT SUMMARY: TOTAL CLAIMS: Est. Total claims: 7106 - Rs. 378 crores Claims in order: 6178 - Rs. 343 crores Claims found deficient: 928 - Rs. 34 crores MAPPING Est. (CLAIMS IN ORDER): 6178 Fully Mapped: 5258 - Rs. 262 crores Partially Mapped: 302 - Rs. 35 crores Not Mapped: 130 - Rs. 6 crores Under Process: 488 - 39 crores WITHDRAWAL OF INVESTMENT: In 273 cases, claimants have found to have withdrawn their principal amount. Further verification is in progress. ASSISTANCE OF HEERA GROUP: Heera Group has been provided photostats of 7298 investors' claims. VALUATION OF PROPERTIES: - Income Tax evaluated the 71 properties (list forwarded by Heera Group) to be worth Rs. 110 crores. - SFIO sent email to Heera Group on September 2, 2022, asking for additional properties for evaluation - No reply from Heera Group. - SFIO sent a second email on September 12, 2022. - Heera Group replied on September 16, 2022, stating that the property evaluation is very low and that they have buyers who can buy the properties at proper price. COST OF CA (SARATH AND ASSOCIATES) STATE WISE COMMITTEE SFIO COMPLETED INVESTIGATION REPORT

Friday, November 11, 2022

November 10, 2022 | Nowhera Shaik is trying to sell ED-attached properties


Despite the Hon'ble Apex Court trying to make all ends meet for the claimants in the Heera Group case, Nowhera Shaik and her Group seem to be having no intention to comply with the Hon'ble Court's directions.  The directions in the Hon'ble Supreme Court of India's ROP today clearly state that since there is a discrepancy between the property value assessed by Tax Authorities (Rs. 110 crores) and as claimed to be by Heera Group (Rs. 800 crores), and so Heera Group has been asked to bring forth the Buyer of the properties worth Rs. 800 crores, that they claim they have, and offered lifting up of any attachment on the attached properties in case a workable solution can be executed in favor of settlement of Rs. 400 crores which until now is the total amount of claims forwarded by the Investors of Heera Group to SFIO.  Regardless, social media is being flooded by false information wherein Nowhera Shaikh and two other members of Heera Group, namely Mutiurrehma Aziz and Rajesh Mishra are clearly lying that the Hon'ble Supreme Court has given the group permission to sell any of the attached properties as they want.

SC ROP (November 10, 2022) Direction #2:  "There is a large discrepancy between the amount assessed by the tax authorities as realizable from sale of property as compared to what petitioners have stated before us. While the properties are assessed at over 110 crores, Mr. Ranjit Kumar, learned senior counsel states that they have ready buyers which will fetch a price amount over Rs.800 crores. We, thus, permit the petitioners to file their offer in a sealed cover as logically the buyer(s) would not like disclosures of all details. We have emphasized to them the importance of prompt payment specially of an amount of Rs.400 crores which would be sufficient to satisfy all the investors so far. Needless to say that any attachment of this land would be agreed to be lifted or lifted by this Court to facilitate the same."

In the below-attached video, all three Heera Group members, Mutiurrehman Aziz, Rajesh Mishra, and Nowhera Shaik herself are openly lying with regards to Supreme Court Directions of November 10, 2022. The claimants in the case believe that Nowhera Shaik and her group are spreading this lie of properties being detached with the intention to sell a part of it off to other unknown potential buyers without the knowledge of the authorities or the Hon'ble Apex Court so as to bring it under further litigation.

Mutiurrehman Aziz:  https://www.youtube.com/watch?v=92LyEyTiMD0

Rajesh Mishra:  https://www.youtube.com/watch?v=19UjTHW_XGg


Nowhera Shaikh:  https://www.youtube.com/watch?v=GDD3TG2WumE

Saturday, September 24, 2022

SAHARA AND HEERA GROUP SCAMS - A FEW MAJOR DIFFERENCES

 


The Hon'ble Supreme Court of India has worked in complete favor of affected victims of the Heera Group Ponzi scam. The initiation of liquidation in the Heera Gold scam case is equal to bypassing the trail of all cases registered against Heera Group in various states and bringing it down to Recovery.

INVESTORS UNITY - Sahara scam Investors were completely divided. No associations or groups formed. Investors had to independently follow case. - Heera Gold scam investors are united. More than 7000 investors have filed their claims with SFIO, and this information was provided to them by Associations formed to fight against the scam, YouTube News Channels, and other investors who have been following the case since the beginning. MEDIA INFLUENCE - Sahara managed to successfully mislead its investors as well as the court using media. - Heera Group failed to mislead its investors. Even today they are trying their best by buying off numerous article writers and small-to-medium YouTube channels to propagate falsehood but are failing because of the investors remaining united against the scam. REASON FOR PROSECUTION - Sahara case was filed by SEBI after they found Sahara to be floating illegal/illegitimate schemes and collecting money from people. There was no complaint from investor initially and Subrato Roy got prosecuted. - Heera Group case was filed by Investors and Nowhera Shaikh was arrested because of complaints filed by affected victims of the scam. CASE STATUS - Sahara owner Subrato Roy vs SEBI is a scam but converted by Subrato Roy into a technical fight where Sahara claims to have been functioning as per the law and SEBI claims otherwise. - Heera Group failed to put up a fight and has agreed to settle investors, which is why Nowhera Shaikh has been provided bail. Heera Group, however, is trying to fight the liquidation procedure (claim verification and auction) by pointing out errors in SFIO's handling of the same. Next Date (tentative/computer generated): November 10, 2022

Sunday, February 20, 2022

Heera Group Fraud | Nowhera Shaik Lies in Supreme Court | States 8000 Investors Paid


Heera Group submitted a fake compliance report of more than 8000 pages in Supreme Court stating that they have paid 8000 investors.  ASG S.V. Raju handed this over to SFIO.  SFIO furnished an Excel Sheet asking Heera Group to enter the records of 8000 investors being paid in this Excel Sheet.  The Excel Sheet has columns which demand Heera Group mention the name of the Bank Account which they used for payment, name of the bank account of the Investor they made payment to, date of payment, transaction number/ID.  In reply, Heera Group's lawyer made excuses before Shri. S.V. Raju and SFIO, stating that Nowhera Shaik was not well and so was not able to fill the Excel Sheet.  To that, Shri. S.V. Raju submitted in his First Report that Heera Group could have used their staff to fill this Excel Sheet but they have not done so.  Shri. S.V. Raju also informed the Supreme Court of India the need for a government-appointed Chartered Accounted to verify their claims of having paid 8000 investors.

The following is a series of images along with text from the images taken from doucments/submissions of both ASG Shr. S.V. Raju and Heera Group in the Supreme Court of India.

ASG Shr. S.V. Raju

Image #1:  Heera Group Affidavit in SC - May 3, 2021:  More than 2000 non-complianants claim have been verified with the help of Go Daddy and have now been paid.  A settlement of gold unit as purchased by investors have bene undertaken with more than 1300 investors as per their liking.




Image #2:  Heera Group Affidavit in SC - June 30, 2021:  Thirteen hundred (1300) investors settled their claim by taking physical gold or gold items.  About 7000 investors have either settled for total or partial withdrawal and the same were paid by cheques from the accounts of the petitioners companies.


Image #3:  Heera Group Affidavit in SC - September 22, 2021:  The petitioner has already provided to Mr. S.V. Raju (Additional Solicitor General) the details of 8 thousand investors with whom the company has made either total or partial settlements. 


Image #4:  ASG S.V. Raju First Report in SC:  Several of these meetings were not attended by lawyers of the accused and so the undersigned also held a separate meeting for the lawyers of the accused when they could not attend the virtual conferences/meetings.  In the meetings, the lawyers for the accused Ld. Sr. Mr. Avtar Singh Rawat & Mr. Sadashiv, AOR were also asked to furnish the information as to who had been paid and the aforementioned Excel Sheet format was also furnished to them.   


Image #5:  ASG S.V. Raju First Report in SC:  The SFIO also received an 8000 pages document from the accused which was not in the format discussed.  The SFIO requested the accused to provide the data to enable the SFIO to verify the documents before the next date of listing, however, the Excel Sheet from the accused is still awaited.  It is pertinent to note that on 18th September 2021 when the lawyers for the accused were asked regarding the data from their side and asked to cooperate, they mentioned that the accused was unwell and hence it would not be possible to streamline the data as requested in the previous meetings/conferences.


Image #6:  ASG S.V. Raju First Report in SC:  IV. That for the purpose of verification of genuineness of payments made to the investors, a Chartered Accountant be appointed who would coordinate with the Investors & the representative of the accused company and SFIO.


Our suggestion is for ASG Shri. S.V. Raju to push for the inclusion the Chartered Accountant in order to verify the claims made by Heera Group.  Nowhera Shaik is asking for the remaining bank accounts to be reactivated only because she intends to take away the balance Rs. 9 crores that is lying in the seized accounts.  It would be great loss to the victims of this scam if this money is handed over to her without verifying her earlier claims of having paid 8000 investors,

Friday, February 4, 2022

HEERA GOLD SCAM | NOWHERA SHAIK TAKING SUPREME COURT FOR GRANTED | CALLING OUT ASG SHRI. S.V. RAJU

JANUARY 11, 2021 – NOWHERA SHAIK – UNDERTAKING
Page #2 – Point #1
    PROMISE TO PAY/SETTLE:  Learned senior counsel for the petitioner (s) on instructions states that if the petitioner is enlarged on interim bail for a period of six weeks, the petitioner/petitioners will settle the accounts of all the complainants and come with a scheme to repay all the others.


JANUARY 19, 2021 – SUPREME COURT’S INTERIM BAIL ORDER
Page #3
    BAIL & CONDITIONS:  It is towards the aforesaid endeavor that we are willing to enlarge the petitioner on interim bail as a probation period for her to show her bona fides to settle the claims of the investors making it clear that lack of strict compliance will take her to the four corners of the custody once again with little chance of getting out thereafter.

Page #3 – Point #2
    BAIL & CONDITIONS:  The enlargement for six weeks is to ensure that the petitioner abides by the undertaking given through her best friend that she will meet the liabilities of all the complainants as on date i.e., cases where charge sheet has been filed or complaints have been made and this amount would be satisfied in toto.

FEBRUARY 24, 2021 – NOWHERA SHAIK – APPLICATION SEEKING EXTENSION OF INTERIM BAIL

MARCH 1, 2021 – NOWHERA SHAIK – APPLICATION SEEKING EXTENSION OF INTERIM BAIL

MARCH 5, 2021 – SUPREME COURT’S RECORD OF PROCEEDING:
Point #2
    DATA:  Insofar as State of Telengana is concerned, we fail to appreciate why the documents which were sought for by the petitioner from the I.O. to verify the claim of 347 investors have not been handed over. If the original documents have been filed with the charge sheet and some documents have been sent to the FSL, still copies of the documents would be available.  On our query, Mr. Basant, learned senior counsel states that the copies of the documents including copies of the hard disk will be handed over within two weeks to the petitioner to facilitate her verification of the amounts.

Point #4
    RENT FROM ATTACHED PROPERTIES:  It is also pointed out to us by learned senior counsel for the petitioner that the rents which are being received from the Mall are being kept in a separate account though they would be required to settle the claim of the investors. We see no reason why those amounts should be kept in a separate account and they should also be brought to the account from which the settlement of the claim of the investors shall take place.

Point #5
    DE-SEALING OF ATTACHED PROPERTIES:  Learned senior counsel for the State states that the office of the petitioner is lying sealed and that she needs access to the office.  In our view, no purpose would be served now by keeping the office indefinitely sealed and the office should accordingly be de-sealed to facilitate the petitioner to take steps as may be required as we have observed that if it is possible to run the business and facilitate the investors being satisfied, that is a course of action which would be appropriate. 

APRIL 19, 2021 – NOWHERA SHAIK – AFFIDAVIT OF COMPLIANCE BY PETITIONER

MAY 3, 2021 – NOWHERA SHAIK – THIRD AFFIDAVIT OF COMPLIANCE BY PETITIONER
Point #15
    CLAIMS OF PAYMENT:  That not only the cheque issued to the complainant are ensured, but also within this short period more than 2500 non-complainants claim have been verified with the help of GO DADDY and have now been paid.

Point #16
    CLAIMS OF PAYMENT:  That the deponent as per the terms of the contract, as explained herein above in para 7 a settlement of gold unit as purchased by investors have been undertaken with more than 1300 investors as per their liking. The some of the Copies of the Settlement Letters of Non- Complainants with the Petitioner dated between 01.3.2021 to 2.3.2021 is annexed and marked as ANNEXURE P-7. [Page 69-78].

JUNE 30, 2021 – NOWHERA SHAIK – FOURTH AFFIDAVIT OF COMPLIANCE BY PETITIONER
Point #13
    CLAIMS OF PAYMENT:  That various investors responded to the aforesaid options and thirteen hundred (1300) investors settled their claim by taking physical gold or gold items, like jewelry and other gold products, as these gold products were lying in various showrooms of the petitioners in its various malls/ marts, as were seized by the Respondents Authorities and after de-sealing the same, these were available for such settlements. The authorities were aware of these facts, as the same was evident by seizure memos. About 7000 investors have either settled for total or partial withdrawal and the same were paid by cheques from the accounts of the petitioners companies.

Point #20
    CLAIMS OF PAYMENT:  As evident from the above-said compliance report, the petitioner is regularly paying to the investors, those who have joined the petitioners company through the link created for the purpose, and till now settled with gold for more than 1300 investors, paid through cheques to more than 7000 investors (the said figure was 2500 at the time of filing earlier report) either partially or fully as per investors choice. 

AUGUST 3, 2021 – NOWHERA SHAIK – ADDITIONAL AFFIDAVIT
Point #3
    CLAIMS OF PAYMENT:  That fourth Compliance Report/Affidavit has been filed by the Petitioners on June 30, 2021 in compliance of the order dated 6.5.2021 passed by this Hon'ble Court. Fourth Compliance Report/Affidavit was up to 30.6.2021 along with supporting documents, bank statement of cheques deposited and en-cashed by the complainants.  Additional documents of 500 Payment Letter/receipts out of 8000 Payment Letter/Receipts have also been filed by petitioners as exemplar showing payment made to about 8000 plus Complainants and Non-Complainants till then.

AUGUST 5, 2021 – SUPREME COURT ORDER – JANUARY 19, 2021 ORDER MADE ABOSLUTE
Page #4
    WORKABLE ARRANGEMENT:  Mr. Surya Prakash V. Raju, learned Additional Solicitor General submits that he will endeavor to coordinate with the State Authorities and the private respondents to see if a workable arrangement can be made to look into the interest of the investors so that the maximum amount be paid to the investors to the extent it is feasible. State Authorities should also coordinate with learned ASG in the matter.

SEPTEMBER 22, 2021 – NOWHERA SHAIK – ADDITIONAL AFFIDAVIT
Point #4
    CLAIMS OF PAYMENT:  That in consonance of the undertaking given by the pairokar of the petitioners namely Late Mr. Mohammad Saleem before th1S Hon'ble Court, it is most humbly submitted that the petitioner is paying to its investor regularly after due verification and even after the date of submission of the fourth compliance affidavit, the petitioner has paid to its investors who had registered with the link provided by the petitioner.

Point #6
    CONFLICT IN VERIFICATION OF COMPLIANCE – PAYMENT:  That in compliance of the order dated 5.8.2021 passed by the Hon'ble Supreme Court, the petitioner participated in the discussion/conference held by Mr. Surya Prakash V. Raju, learned Additional Solicitor General on different dates and cooperated fully. The petitioner has already provided to Mr. S.V. Raju (Additional Solicitor General) the details of 8 thousand investors with whom the company has made either total or partial settlements. The only way the petitioner could obtain the said details was by retrieving information from GoDaddy which is again old, unverifiable and possibly outdated. The Petitioners emailed the details to Mr. S. V Raju, learned Additional Solicitor General. However, Mr. S. V Raju, learned Additional Solicitor General wants the Company to provide the details in excel sheet format which is extremely difficult task because thousands of investor's details have to be entered manually. Moreover data in excel sheet format may lead to data breach, since excel sheet documents are known to be easily editable and may have errors since everything will be done manually.

Point #12
    REJECTING DATA PROVIDED BY CCS:  The data given by the department IS of no use. The information provided to petitioner by the CCS is not equal to the data that they earlier possessed. It is the same answer petitioner receives even now when they request the CCS to hand over everything that was seized. They ask petitioner to hand over hard disks in order to get the data copied which petitioner have earlier mentioned proves to be a fruitless exercise. 


REPORT ON BEHALF OF ADDITIONAL SOLICITOR GENERAL OF INDIA, SHRI S.V. RAJU
Point #6
    SEVERAL MEETINGS NOT ATTENDED:  Several of these meetings were not attended by the lawyers of the accused and so the undersigned also held a separate meeting for the lawyers of the accused when they could not attend the virtual conferences/meetings.  In the meeting, the lawyer of the accused Sr. Mr. Avtar Singh Rawat and Mr. Sadashiv, ACR, were also asked to furnish the information as to who had been paid and the aforementioned excel sheet format was also furnished to them.

Point #8 -1
    JUMBLED UP DATA/DOCUMENTS:  The SFIO also received an 8000 pages document from the accused which was not in the format discussed.  The SFIO requested the accused to provide the data to enable the SFIO to verify the documents before the next date of listing, however, the excel sheet from the accused is still awaited.

Point #8 -2
    ACCUSED UNWELL:  It is pertinent to note that on 18th September 2021, when the lawyers for the accused were asked regarding the data from their side and asked to cooperate, they mentioned the accused was unwell and hence it would not be possible to streamline the data as requested in the previous meetings/conferences.

Point #8 -3 - Annexure A
    EMAIL STATING INABILITY TO FURNISH DATA RELATED TO PAYMENTS MADE:  Email Content:  “Returned 22 cr approx to non-complainants + 6 cr approx to complainants + more than 100 kgs of gold of approx value of Rs. 45 crores = Approx 73 crores.”

Point #8 -4
    ACCUSED NOT COOPERATING:  The accused appears to be casual about cooperating and therefore she may be directed to cooperate.

Point #14
    WEBSITE LINK AND CLAIMS OF PAYMENT:  It is further pertinent to mention that, the accused had provided a website link for the investors to raise their complaint and claim the invested amount, however it has been brought to the notice of the undersigned that the same link was not working properly and was not accepting data from many investors.  Hence appropriate directions are required in this regard.

Point #15 – IV
    CHARTERED ACCOUNTANT TO VERIFY PAYMENTS MADE:  That for the purpose of verification of genuineness of payments made to the investors a Chartered Accountant be appointed who would coordinate with the investors and the representatives of the accused company and SFIO. 

OUR NOTE:
    RS 44 CRORES HANDED OVER TO NOWHERA SHAIK:  Not more than 100 investors have been paid until today since the Hon’ble Supreme Court had granted bail to Nowhera Shaik a year ago, on January 19, 2021.  The Supreme Court had asked ED to transfer all amount back (Rs. 44 crores) to Nowhera Shaik.  We believe that this money is being spent on buying off social media channels to portray a totally different picture with regards to what’s going on in the Supreme Court.  It is all praise for Nowhera Shaik everywhere.  She has already claimed to have settled 7000 investors, but how many of those who have intervened in 31/2020 through various lawyers have been paid?

    NOWHERA SHAIK TAKING POSSESSION OF PROPERTIES THAT ARE SUPPOSED TO BE LIQUIDATED:  Nowhera Shaik 
is supposed to offer properties to be sold to settle claims of investors via Shri. S.V. Raju’s Workable Arrangement thing, but in contrast to that, she is going on opening new businesses in the existing properties that were attached in the Interest of Depositors by state authorities.  How will we get paid if such conflicts are created on the assets?
More in link:  https://insiderschronicle.blogspot.com/2022/01/heera-digital-gold-fake-business.html

    NEED VERIFICATION OF COMPLIANCE:  We request that the Hon’ble Supreme Court of India to appoint a Chartered Accountant per the recommendation made by Hon. ASG Shri. S.V. Raju in his report at the earliest.  Nowhera Shaik is taking the Supreme Court for granted.  If she fails to prove her bona fides (payments made to 8000 investors), she should better be put back in jail.

Monday, January 17, 2022

Heera Digital Gold Fake Business | Nowhera Shaikh maneuvers to foil Supreme Court's intent to provide relief to Heera Gold victims

Why is Nowhera Shaik conducting opening ceremonies under the Heera Digital Gold Banner?  Heera Digital business openings on major properties attached by Enforcement Directorate

SIX MAJOR PROPERTIES ATTACHED IN THE HEERA GOLD CASES:
#1.  Banjara Hills office (Hyderabad).
#2.  MLA Colony residence (Hyderabad).
#3.  Kukatpally mall (Hyderabad)
#4.  Tirupati mall (Andhra Pradesh).
#5.  Belapur mall (Maharashtra).
#6.  Tolichowki land (Hyderabad) - Litigation, Hyd HC.

Property #1 and #2 are currently occupied by Nowhera Shaik.  They have also taken possession of #3 and #4 by the way of conducting lauch/opening ceremonies claiming to be launching a new business under the banner of Heera Digital World.

TAKING POSSESSION OF PROPERTIES UNDER THE GUISE OF DOING BUSINESS:
Property #3.  January 1, 2022, Kukatpally mall opening.
Property #4.  January 10, 2022, Tirupati mall opening.

Video #2:  Kukatpally Mall (Property #3, Hyderabad) Possession & Opening.

Video #3:  Tirupathi Mall (Property #4, Andhra Pradesh) Possession & Opening

Out of the six major properties attached by CCS/EOW, now with ED, property #6 is in litigation and the remaining 4 properties (#1 to #4) have been taken possession of by Nowhera Shaikh and property #5 is planned for possession/opening on January 20, 2022.  Property #5 (Belapur) is planned to be opened on January 20, 2022, and Property #6 (Tolichowkie Land, Hyderabad) is in litigation in Hyderabad High Court, and an intervention has been filed in the Heera Case 31/2020 asking SC to exclude property #6 from any kind of liquidation.

SUPREME COURT'S ORIGINAL INTENT:

In the earlier hearings, the Supreme Court had assigned the Hon'ble ASG to find a workable solution by the way of SFIO verifying claims and Evaluator assessing worth of properties to be sold to settle claims verified by SFIO, both to be headed by Hon'ble ASG, Shri. S.V. Raju's office.  Heera Gold's taking possession of the major properties attached by ED/CCS/EOW, and creating a show of business is an attempt to prevent the ASG's office to count these properties amongst those that may be liquidated for the purpose of paying the claimants verified by SFIO.

There are numerous misleading advertisements floated by Heera Gold under the Heera Digital World banner along with several false statements made to fabricate a show of business with the sole purpsoe of taking possession of prime properties, and subsequently to divert SC's attention towards property #6 |(litigation).  This action of the company is just a new conflict for the Supreme Court to ponder upon and cause hindrence in the Hon'ble Supreme Court of India's intent to provide relief to the claimants.

MISLEADING ADVERTISEMENTS:

1. Website:  https://heeradigitalworld.com/ - “With over 150 stores across the country, a Heera store is close to you wherever you live.”


2. Facebook:  https://www.facebook.com/Heera-Digital-World-108076058160417/ - “Interview of Dr. Nowhera Shaik at the launch of Digital Gold.”


3.  YouTube:  List of Videos Establishing False Claims, Misleading Advertisements, inducing investors to invest

Video #1:  https://youtu.be/4LnJfeBiud0
Video Title:  Introducing Heera Digital Gold
YouTube Channel:  DrNowherashaikOfficial
Link of Channel:  https://www.youtube.com/channel/UCrA9gaBisLkJHzOSYfBLayw/videos
Advertising:  Investment, Locker/vault
Statements Made:
- “You may invest the amount with your convenience.  Heera Gold can be used to secure online loans, and the gold here is real and 24 KTR.  We will be keeping your gold securely and thoroughly insured.”
- “When you start investing in Heera Digital Gold, it buys an equivalent quantity of actual gold and keeps it in safe vaults in your name.”
- “You can exchange Digital Gold for physical jewelry or gold bars.  Your gold will be safe in our secure vaults.”

YouTube Video #1:  Introducing Heera Digital Gold

Video #2:  https://youtu.be/ONmxwlj4jek
Video Title:  AB YE SUNE AAPAA KI ZABANI || #heeramart
YouTube Channel:  Heera Gold Genuine Supporter
Link of Channel:  https://www.youtube.com/channel/UC47laVJkJpg2gqpItqoKscw
Advertising:  Investment, Holding of Gold With Bank (Digital Gold).
Statements Made (Nowhera Shaik):
- “Digital aur physical me fark ye rahega, ke digital apne business ke liye banking ke through hold kar sakte hai aur uska jo turnover hota hai aur uska jo market price hota hai wo Kitco market world market price ke hisab se hota hai aur uska jo profit hota hai ek dum se accha wala profit hota hai.”  Translated:  “The difference between Digital and Physical Gold is that you can hold your gold with us for business purposes and the profit generated and the market price is better in Digital Gold.”

YouTube Video #2:  Advertising Digital Gold

Video #3:  https://youtu.be/1X3fKGU-AXU
Video Title:  ALL DETAILS ABOUT HEERA DIGITAL GOLD
YouTube Channel:  Heera Group
Link of Channel:  https://www.youtube.com/channel/UCn2-UeDFR5bGApwABj5XVjA
Advertising:  Worldwide Business Claims, Digital Gold
Statements Made:
- “Heera Group is currently one of the top ventures not just nationally but internationally.”
- “One can place an order for physical gold in the form of bars or jewelry in exchange for digital gold.”

YouTube Video #3:  Claiming to have Digital Gold Business Worldwide 

Video #4:  https://youtu.be/-QzHXZ8nGHs
Video Title: Heera Digital Gold Update Latest
YouTube Channel:  Nowhera shaik FC
Link of Channel:  https://www.youtube.com/channel/UC84MEqTgbO57F93VVdtJv7w
Advertising:  Investment, Storage of Digital Gold
Statements:
- “Heera Digital Gold assures complete security and safety in terms of the storage facilities for the digital gold purchased.”
- “Heera Digital Gold gives you a guarantee that the digital gold bought by you will be stored safely.”
- “Heera Digital Gold assures complete security and safety in terms of the storage facilities for the digital gold purchased.”
- “Heera Digital Gold is a safe investment that will give you good returns in the future.”

YouTube Video #4:  Claiming to have Vault/Locker services for Digital Gold

Video #5:  https://youtu.be/-i-PLXCZ3us & https://youtu.be/qpSDVrnPfhA
Video Title:  HEERA DIGITAL GOLD AND HOW IT IS PURCHASED.
YouTube Channel:  DrNowherashaikOfficial & Heera Group Team Salim iPhone
Link of Channel:  https://www.youtube.com/channel/UCrA9gaBisLkJHzOSYfBLayw & https://www.youtube.com/channel/UCQKuCABz5QZ5YrnFZ-jPIDQ
Advertising:  Heera Digital’s Vault/Locker
Statements:
- “Heera Digital Gold will be transferred to your wallet after the purchase.  Heera Digital Gold will be safely kept in our Heera Group vaults on your name.”
- “Whenever you want you can convert that into physical gold and take delivery from our stores all over the globe.”

YouTube Video #5:  Advertising Vault Services for Digital Gold


LIST OF A FEW OF THE MANY FALSE CLAIMS BY HEERA GROUP IN THEIR ADVERTISEMENTS MADE FOR HEERA DIGITAL GOLD

Claim #1:  Over 150 stores across the country.  Heera Group is currently one of the top ventures not just nationally but internationally.  Whenever you want you can convert that into physical gold and take delivery from our stores all over the globe.
Fact:  Enforcement Directorate has attached all of Nowhera Shaik’s properties and apart from a few properties in Hyderabad, the rest are completely closed.  Making false claims about affiliation/recognition Constitutes unfair trade practice

Claim #2:  The digital gold you purchase from Heera Group will be safely keep in the company’s vault on your name.
Fact:  Only about three companies in India have the authority to provide vault services for digital gold:
1. Augmont Gold Ltd.
2. MMTC-PAMP India Pvt. Ltd. a joint venture between state-run MMTC Ltd. and Swiss firm MKS PAMP.
3. Digital Gold India Pvt/Ltd with its SafeGold brand.

Claim #3:  We will be keeping your gold securely and thoroughly insured.
Fact:  There is no mention in any brochure or digital advertisement or verbal statements about any tie-up with any insurance provider.

Claim #4:  Over 1000 people have already purchased gold coins from us just after advertising Heera Digital Gold in WhatsApp groups.
Fact:  This statement was made on January 1, 2022, which was the day of opening/inauguration of Heera Digital Gold.

Heera Digital Gold is said to be a scheme under the company named Heera Gold Exim Ltd.  Heera Gold Exim Ltd is an “unlisted” company and therefore is not on the share market.  It does not have any permission/license from RBI to collect deposits/investments from people.  Nowhera Shaik is claiming to be providing vault services for gold and due to being an unlisted public limited company and the lack of permission/license from RBI, any sale of digital gold would amount to offence under Banning of Unregulated Deposit Schemes Act.

The Bureau of Indian Standards (Certification) Regulations, 1988 Rule 7 (1) (l), (g) and (h) prohibits misleading advertisements pertaining to BIS certification. It says:
(g) The licensee shall state in documentation brochures or through advertising media that the organization or location to which the license applies have been assessed and approved by the Bureau. In such advertisement the Indian Standard(s) on Management Systems(s) for which a license has been granted is/are to be stated and any other level(s) of approval than granted is not to be implied.

In none of the advertisements done by Heera Gold Exim Ltd have they mentioned the BIS certification.  No BIS certification mentioned in Heera Gold’s official website, Facebook, YouTube or any social media accounts operated by them.

IMPORTANT POINTS - RS. 44 CRORES HANDED OVER BY SC TO COMPANY:
1.  Rs. 44 crore has been returned by ED per the instructions of Hon'ble Supreme Court - We have not yet taken accounts of this money transferred back to Heera accounts.  The compliance report is incomplete and lacks proper documents establishing compliance/payment to claimants, which was the purpose of which the money was handed over back to the company.
2.  Data is only an excuse for delay - This has been going on for more than a year now.  Despite SC setting brief guidelines to get things done, the company has been coming up with multiple variations of similar excuses, and ASG has been updating the court of non-cooperation by Heera.  We are moving towards a stalemate situation instead of a workable solution.

NONCOMPLIANCE - NO MORE THAN 100 CLAIMANTS HAVE BEEN PAID OVERALL

The undertaking given by Nowhera Shaik dated January 11, 2021, states that she will be settling all complainants/claimants within a period of 6 weeks, and all other claims within a period of 6 months because of which the Supreme Court of India had granted her bail on January 19, 2021.  In support of the promises made by Nowhera Shaikh in her January 11, 2021, undertaking, she has submitted a series of compliance reports.  Any one of these so-called compliance report if checked, will expose all truth that needs to be known by the court.

OTHERS - FRAZER TOWN (BANGALORE, KARNATAKA) MAJOR PROPERTY NOT ATTACHED

Video recording of prime property in Frazer Town, Bangalore, not attached.

Official YouTube Channel Advertising Heera Digital World




Friday, December 31, 2021

Heera Digital Gold - Fake Show of Business by Heera Group


BACKGROUND - CASE STATUS

Those who think that Nowhera Shaikh has been granted Regular Bail are in err. Her bail argument has been temporarily suspended until the end of the current liquidation procedure that is to be executed by the Additional Attorney General's office.  The Supreme Court is well aware of the fact that in order to provide relief to the victims, it would require a liquidation order from a court (Sessions/District) after trial, which would take years to conclude. Hence when Nowhera Shaikh offered to settle all investors in her undertaking of January 11, 2021, the Supreme Court of India saw this as an opportunity to provide relief to some of the victims in exchange of relief that it has granted to Nowhera Shaikh by the way of Interim Bail on January 19, 2021.  It is merely an extension of the Interim Bail granted to Nowhera Shaikh.


Nowhera Shaikh had promised to settle all Complainants within 6 weeks and all noncomplainants within 6 months. The First Excuse she came up with was lack of funds in bank due to Enforcement Directorate's withdrawal of the same.  ED was ordered to return back, which they did.  The Second Excuse was data.  Along with this second excuse, Nowhera Shaikh feared that if she would not pay anybody at all, then SC would send her back in jail, and so she paid 28 First Complainants and also offered her properties to be sold.  Considering the offer of properties by Heerea, SC ordered the Additional Solicitor General of India, Shri S.V. Raju, to chalk out a workable solution with Heera where Heera's properties can be sold to all those investors who will be verified by SFIO, thus eradicating any excuses of nonpayment - Money, Data.

SFIO issued a public notice dated November 2, 2021, which we know was uploaded to SFIO's official website on November 5, 2021. The first advertisement of the same was published in Times of India on November 10, 2021, leaving only 10 days for the investors to submit their claims to SFIO.  On calling SFIO, it was informed that all investors, including complainants, those who have intervened in SC, as well as those whose names are in the charge sheets of various FIRs against Heera, need to respond to this public notice before November 20, 2021.


WHY THIS NEW SHOW OF BUSINESS? - IN PURSUIT OF REGULAR BAIL

To understand the intentions behind Nowhera Shaikh advertising a new business in the name of Heera Gold, we first need to keep in mind the following:
1.  There is no business plan chalked out by Heera Group and their website does not reflect anything related to Heera Digital.
2.  No established management, no list of staff, no sign of any of Heera offices in any other state or city except Hyderabad.
3.  All Heera properties are attached including the Banjara Hills office, the MLA colony residence, Heera Mart in Kukatpally, everything - all connected to the existing cases going on against her in various states.
4.  Her interim bail ends if there is anybody left to be paid after this liquidation that is being done by ASG's office.

The selling of Heera Properties through ASG's office will take around 1-1/2 to 2 years. A total of about 2,500 investors have filed their complaints attached to various FIRs throughout India.  It is our understanding that not more than half of these complainants have responded to SFIO's public notice, and even a lesser number will pass the verification that is being currently undertaken by SFIO and their related offices.  Therefore, a large number of complainants will still be pending after settlement of SFIO's verified list of investors.  This will be brought up to SC's notice and Heera will need to be prepared for it.

Heera Gold started a Digital Gold business which is not a real business and is just in preparation to defend Nowhera Shaikh in Supreme Court.  Numerous fake transactions will be made and lakhs and lakhs of amounts in tax will be paid, and when the time comes for Nowhera Shaikh to answer regarding the left out investors, she will submit documents that would establish huge business transactions and genuine tax payments in hopes of getting Regular Bail.  Regular Bail to her would mean she would not be sent back to jail in any of the cases registered against her until any specific order (due to abstinence) or judgement to pay would be delivered by any of the courts (district/sessions), and this would take years to come about.  Once she is free from SC, then there is a long long wait for those who are left out.

Nowhera Shaikh and her group are advertising Heera Digital at such a stage where it makes no sense to start a new business under the same fallen banner of Heera.  We now know why it is being done so.  All that matters to Nowhera Shaikh is Regular Bail.  So much for an Amanatdar Deendar Dayanatnar Imandar Alima Doctor Aapa Nowhera Shaikh Sahiba!  Those who are still believing in her and have not approached the court of law against her, may continue their woman-worship and ignore the truth as long as they like; their loss.  We complainants have done all that we could.

Heera Digital in a Nutshell:  "Fake transactions and genuine tax to tell SC that Nowhera Shaikh is doing business so that SC does not kick her back to jail."


PEOPLE'S QUESTIONS ON HEERA DIGITAL GOLD - COMPILED, UNANSWERED

1. You (Nowhera Shaikh) said that you will buy gold on behalf of investors and will put their purchase (gold coins/bars) in a locker. Will this locker be in your office or are you hiring third-party services?
2. Is there any extra profit that you will be giving to the investors on buying digital gold from you? How would you urge anybody to buy digital gold from you and keep it with you if there is no extra profit declared?
3. Since you are going to keep people's gold with you, this is an investment scheme similar to what it was earlier when we used to buy gold and you used to use our gold to trade it in the market. How will we be able to participate in the trading of our gold that we will keep with you?
4. Is this investment scheme only online or will you be opening a retail outlet? If yes, then will you update addresses of all retail outlets for all states, i.e, Maharashtra, Karnataka, Kerala, Andhra, etc?
5. Is Heera Digital Gold Halal as well? Will non-Muslims also be allowed to invest?
6. What are the withdrawal terms and conditions?
7. When will you update your website http://heeraerp.com/ regarding the Digital Gold?
8. When will you update list of management/staff members that are working for the company on http://heeraerp.com/ or other company websites?
9. Have you created an App that would facilitate purchase and withdrawal for digital gold?
10. In your last schemes, thousands of people have purchased gold from you and have kept that gold with you for trading. What happened to their gold? Are they safe in a locker somewhere? You promised to pay noncomplainants who have applied for withdrawal and continuation and you have submitted in Supreme Court that you will pay all noncomplainants their dues in 6 months. It is almost a year now and nobody has received their money back. You said you will pay in January 2022. What is the date in January 2022 that you will be paying noncomplainants who have not complained and supported the company?

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Who is Nowhera Shaikh? Is Heera Gold real or fake? Nowhera Shaikh is a self-proclaimed Islamic Scholar who addresses herself as a doctor and is responsible for the luring more than 1,72,000 Muslims to invest in her Ponzi schemes floated under the banner Heera Gold.  There have been more than 30 FIRs registered against her and the promoters of Heera Gold, and authorities investigating her cases have stated her business modules to be on the lines of Ponzi.  She has spent more than 2 years in jail and is currently out on Interim Bail and the Supreme Court of India has ordered her to settle all dues or face jail again.  As of December 2021.


Wednesday, October 6, 2021

Heera Group | Current Case Status | Supreme Court of India, October 6, 2021


Background:  Heera Group's only intention is to keep Nowhera Shaikh out on bail.  There is no intention to pay/settle investors as they have claimed so far.  There is no evident "source of fund," there never was any business on ground.  JNAS school and Fake Scholars were put on display to induce Muslims into investing. Supreme Court has handed over Rs. 44 crores to Nowhera Shaikh for distribution.  Proof of payment has not been provided, but we know that the first complainants of the 28 FIRs filed against Heera Group have been settled.

Image:  Shri. S.V. Raju - Additional Solicitor General of India
Representing Enforcement Directorate in the Heera Group case.

*The Three Major Responsibilities of of Investigating Authorities* - Shri. S.V. Raju, Additional Solicitor General of India (Representing ED in Supreme Court) and SFIO, u/ Ministry of Corporate Affairs.

1.  *Investors' List:*  SFIO is to work in collaboration with Shri. S.V. Raju's office and gather information of all complainants from all investigating authorities, verify the claims through banks, and submit a verified list of investors to S.V. Raju, which then would be submitted in the Supreme Court of India, thereby rendering the Data Excuse by Heera Group to be baseless.

Image:  Keshav Chandra (middle), Head of SFIO, India

2.  *Rs. 44 crores:*  Shri. S.V. Raju's office has prepared an Excel Sheet that is demanding Heera Group to submit proof of payment done to the claimed *8000 Investors* mentioned in their compliance report.  This Excel Sheet includes sections that shall contain details of Bank Transaction/NEFT/IMPS, Cheques No., Bank Name, Name of Investor/Creditor, etc.  This Excel Sheet has been forwarded to Heera Group and they have not yet provided any information with regards to payments.  All of the above is mentioned in the report submitted by Shri. S.V. Raju to the Supreme Court of India in the earlier hearing of September 22, 2021.  Of note is that the accounts of Rs. 44 crore handed over to Nowhera Shaikh is still pending.

3.  *Selling of Properties:*  Since the focus of the Hon'ble Supreme Court is to return back Investors their money, the second responsibility being assigned to Shri S.V. Raju's office is to assess the attached properties of Heera Group and find a workable solution to liquidate these properties to settle Investors.


*Supreme Court Hearing | Heera Group Matter | October 6, 2021*

- Additional Solicitor General, Mr. S.V. Raju was physically in court No. 2 arguing a death sentence in another case, and so could not be present for the hearing.  Justice Sanjay Kishan Kaul and other lawyers present unanimously agreed for another date.  Next date:  October 28, 2021.

- The court did not respond to Heera Group's lawyer suggesting to proceed in the absence of Mr. S.V. Raju.

- Intervention - Nowhera Shaikh gave a list of properties that she proposes to sell to settle investors.  An intervention was filed by S.A. Builders (Sayed Akhtar of Tolichowkie) stating that the Rs. 1600 crore Tolichowkie property that Nowhera Shaikh claims to be hers is actually registered in the name of S.A. Builders.  Justice Sanjay Kishan Kaul responded by stating that he would not entertain any intervention.  The intervening lawyer said that he is concerned that the property is registered in his clien't name and that the court may order to sell it off before considering this.  Justice Sanjay Kishan Kaul said that it is obvious that all such things will be scrutinized by authorities before proceeding forward.


*The Heera Group Akhtar Tolichowkie Issue Summary | Rs. 148 Crore Transfer*

Image:  Sayed Akhtar Residence, Hyderabad

Nowhera Shaikh had purchased the Tolichowkie Land in question (SA Colony today) by paying Rs. 148 crores to Sayed Akhtar of SA Builders.  On inquiring the Heera Group scam, ED attached the Tolichowkie land.  ED also got to know of the Rs. 148 crore transfer from Heera Group to Sayed Akhtar.  ED summoned Sayed Akhtar to explain the Rs. 148 crore transfer.  Sayed Akhtar visited Nowhera Shaikh in Chanchalguda Jail to sort out the issue.  Nowhera Shaik did not cooperate.  Now fearing that he would be asked to return the Rs. 148 crores, Sayed Akhtar took over the possession of the land.  Nowhera Shaikh in one of her petitions in Supreme Court mentioned that somebody had taken possession of the Tolichowkie land, but did not mention any name.  Nowhera Shaikh came out on bail and approached Sayed Akhtar to discuss regarding the land that she had paid Rs. 148 crores for, but Sayed Akhtar said that he is being questioned about the Rs. 148 crore transfer and would someday need to return this money, which would mean that he would lose the land for nothing.

TOI Link:  https://timesofindia.indiatimes.com/city/hyderabad/nowhera-case-ed-unearths-rs-148-crore-trail-seeks-information/articleshow/77364762.cms

The Hindu Link:  https://hyderabadnow.in/2020/08/04/appear-before-ed-in-ponzi-scam-hc-to-petitioners/

In these transactions, Nowhera Shaikh has nothing to lose since all the money she had paid to Sayed Akhtar belongs to the investors whom she had scammed under the Heera Gold fake schemes.  Sayed Akhtar Tolichowkie has gained Rs. 148 crore because he has taken back the land that he had sold to Heera Group.  The land was sold to Nowhera Shaikh under an agreement, but it is still registered in Sayed Akhtar's name; this was submitted today, October 6, 2021, in the Supreme Court of India by Sayed Akhtar's lawyer.

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Who is Nowhera Shaikh? Is Heera Gold real or fake? Nowhera Shaikh is a self-proclaimed Islamic Scholar who addresses herself as a doctor and is responsible for the luring more than 1,72,000 Muslims to invest in her Ponzi schemes floated under the banner Heera Gold.  There have been more than 30 FIRs registered against her and the promoters of Heera Gold, and authorities investigating her cases have stated her business modules to be on the lines of Ponzi.  She has spent more than 2 years in jail and is currently out on Interim Bail and the Supreme Court of India has ordered her to settle all dues or face jail again.  As of December 2021.

Is the Hon'ble Supreme Court being taken for a Royal Ride by Heera Group?

  To all those connected with/following the Heera Group case in the Hon'ble Supreme Court of India. Re:  W.P.(Crl.) No. 31/2020 in the H...