Nowhera Shaik founded the Heera group in 1988. But, she got arrested for the Ponzi scheme. However, the supreme court granted release to Nowhera and allowed her to continue the business. The supreme court granted conditional bail to Nowhera Shaik, who had to refund wagers accepted from investors. Nowhera Shaik , the founder of the Heera group, says that she knows the financial condition of the investors well. She will return the money as soon as possible.
Nowhera Shaik got jailed for running a Ponzi gold scheme that promised investors to return 36% per year. Political critics assume that the Heera group won’t be able to return the money. However, Nowhera Shaik proved her critics wrong and assured the Heera Group investors that they would get their money back. Nowhera is known for her resilience, determination, and hard work. So it wasn’t rightful to judge her so fast. It wasn’t justifiable to predict her mindset without making a proper investigation. Her supporters and close ones know that Nowhera would return the money.The promising lady again proved her reliability and accountability by returning the money.
What’s the current situation of the Heera group?
Director general of GST intelligence Hyderabad asked Nowhera to give back 16 crores to the investors. However, the court granted her bail and allowed her to continue her business. The supreme court also ordered the unsealing of Heera gold Exim Limited. It lets the official run the business smoothly.
The company officials claimed that it would initiate the social work and business under the supervision of Dr. Shaik.
Nowhera would continue working for unprivileged Islamic women. 2% of the business revenue would go to the farmers. In this way, she would be able to get her lost reputation back.