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.