Mumbai Multimedia Studio keeps updating their audiences and readers world wide about the latest information on this historical scam which rocks india before a month of Ramadan of 2019 - current scenario is 2021 Ramadan is in offing and will start in blinking of time - we as an investor hope to receive our hard earned money atleast in this Ramadan where the panademic crisis still looming on our head and pray to Al mighty it goes smoothly with our disbursement of fund soon from Nowhera Shaikh - Our blogs on the subjects and this one in continuation to those appeared on our website and receives an applaud from our audiences and Government of India as well.
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Clad & well ironed dressed in a black Indonesian garment abhaya / burqa, an identical hijab with a trade mark of diamonds decorated on it, a smiling and assured Nowhera Shaikh, this time, the Founder of Heera Group of companies, walked into the hall in her workplace in Hyderabad’s Banjara Hills last Saturday. Once settled, she self-addressed her 1st press meet when being granted bail by the Supreme Court. While solely the media was strictly allowed for the press meet, her set ensured others, particularly investors, weren't allowed into the press conference. Nowhera began the address by recollecting however she has been instrumental within the authorization of ladies, especially from the Muslim community. Since 1998 once the Heera cluster was established, we've got been instrumental in empowering tons of women,” said Nowhera Shaikh. She went on to assert however she had been created to travel through such a lot for “a little GST drawback that surfaced”. “From 1998 to 2018, the corporate functioned smoothly. Iused to be not even given a notice before my arrest. I spent virtually 2.5 years in jail.” While she spoke about those targeting her and named Asaduddin Owaisi and “his people” as those chargeable for all that happened to her, investors hoped she would discuss repaying them. She demanded that her voice reach the minister of finance of the country once she warned, “India’s economy will crash if CEOs like Pine Tree State are arrested”. “I salute the Indian constitution and that indian judiciary and I was certain that i will be able to get justice,” same Nowhera. In between all the allegations and claims, Nowhera announced, “Heera cluster is prepared to form its payments. we tend tone'er ran away nor will we ever run away. the corporate will usher in new policies and can come through larger heights.” Her announcement clearly indicated that she plans to continue her investment theme that was all this whereas touted as a ponzi scheme that had allegedly cheated over a 175000 investors.
“We have signed documents of all our investors expression that in profit or in loss, they're going to be with the company. we've got not cheated anyone,” declared Nowhera Shaikh.
When asked however she planned to repay the investors considering her company’s accounts are frozen, Nowhera Shaikh said, “Some of our accounts have been dischargedand really soon, the others will be released. we've got assets value Rs 5000 large integer in Telangana which is enough to repay all the investors.” On how long it'dsee her to repay the investors, she said, “It depends on many factors. i will be able to sit with my investors and sit down with them personally. they're going to either bethe choice to withdraw their cash or keep their money invested the company. looking on what they decide, we'll skills a lot of time it'll desire repay them all.” Nowhera said the Central Crime Station (CCS) had frozen the company data and hence they are unaware about details of the investors and about how much needs to be paid to them. “Two weeks are needed for CCS to provide us the data about the investors. After we get that, we will start repaying everyone,” said Nowhera. She also rubbished claims that her company had 1.75 lakh investors as reported by the media. She said both the figures and the number of investors being claimed are incorrect. When asked what the right figures are, she replied, “We will have to check the data and only then we will know the right figures.” Meanwhile, the Supreme Court, while laying down conditions for her bail, has directed her to repay the investors. The Heera Group, just to comply with the apex court’s order, issued cheques to some of the investors who had filed cases against Nowhera.
Where is the money?': Investors question Nowhera Shaikh over ponzi scheme - Nowhera Shaikh has been asked by the Supreme Court to repay the victims of the ponzi scheme, however the investors say that they're cautious of her assurances. For many hundred thousand investors allegedly duped by Nowhera Shaikh, the founder administrator of Heera cluster, obtaining back their endowed cash is proving to be a tricky task. The Supreme Court, whereas granting Nowhera Shaikh bail in January 2021, had set down a condition that she ought to repay back her investors inside six weeks. In tries to adjust to the Supreme Court’s bail conditions, the Heera group had issued cheques amounting to Rs eight to nine Crore in Telangana High Court. However, these cheques were issued within the name of these investors who had filed a grievance with the police, ED, EOW.
The names of others, who were mentioned within the FIR, were ignored. The duped investors now accuse Nowhera Shaikh of trying to fool even the Supreme Court of India and claim that she has no real intention of paying them back. Several investors allegedly duped by the ponzi scheme of Heera group gathered on Friday at the Nampally court and found that the company planned to submit nine cheques on February 17, 2021. These cheques are to be addressed to those who filed police complaints. No cheques are being issued in the name of several investors who were mentioned in the nine FIRs that were filed by the police, say investors. The cheques were brought to the court on Friday, but not submitted owing to resistance from the investors. There are a total of 374 investors from Telangana who are named in the Enforcement Directorate case against the Heera Group. “What is the intention behind submitting these cheques when their bank accounts are frozen?” asked Shabaz Khan, the anti-corruption activist who runs a support group for those duped by the Heera group, “They are trying to mislead the Supreme Court.
The Supreme Court has set a deadline for Nowhera Shaikh which ends on March 15, 2021 - Today. If they were serious about giving the money back, they would have approached the Hyderabad Central Crime Station (CCS) and the Enforcement Directorate (ED) by now, seeking to unfreeze their bank accounts and release data on their investors which the officials had seized. But they haven’t made such a move yet. They are issuing these cheques, which will bounce. They will then tell the court they need an extension. It’s a trick,” he alleged. Responding to the allegations through a social media address, Nowhera Shaikh said that the claims of those who have been named in the FIRs have to be first verified by the courts. In a 30-minute long monologue, the accused assured all her investors that their money will be returned once the bank accounts are unfrozen. She also claimed that she will repay her investors as per the bail conditions laid down by the Supreme Court. Nowhera Shaikh, the managing director of Heera group of companies, was arrested by the ED in 2019 along with others, over a case booked against her under various sections of the Prevention of Money Laundering Act (PMLA). That same year, she was also arrested by the Telangana and Maharashtra police in similar cases.
The ED has accused her of hatching a "well-planned conspiracy and luring innocent people to deposit their savings with her for-profit sharing rather than interest." Authorities said that Nowhera Shaikh collected deposits to the tune of Rs 5,600 crore from around 1.75 lakh investors and made false promises of paying a high rate of returns like that of 3% per month or 36% to 40% per year. "For this fraud, she had opened around 250 accounts in various banks across the country and eight accounts were opened in UAE and Saudi Arabia. They diverted the depositors' amounts to their personal accounts for and amassed huge movable and immovable assets," the ED had said earlier
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