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.
