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.
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| 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.
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| 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*
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| 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.
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.
