The Hon’ble Court granted interim bail to Dr. Nowhera Shaik, the managing director and CEO of the firm, on the understanding that she would resolve the investors’ claims. The temporary bail was periodically increased, and on August 5, 2021, it became unconditional. Dr. Nowhera Shaik has consistently shown herself to be a responsible and law-abiding Indian citizen. She has assisted every agency involved in this case. The Hon’ble Court did award regular bail and expressed its faith in CEO Dr. Nowhera Shaik. When SFIO went to the Apex Court in May 2022 to request that her bail be cancelled, the Supreme Court rejected SFIO’s argument. This occurrence served as another evidence that the Honorable SC had complete faith in Dr. Nowhera Shaik. To comply with the demand to return investors’ money, the Heera group has given documents to SFIO and the Income Tax valuation department relating assets valued at Rs 900 crore. To maintain investor confidence, premier properties are being offered. All sincere investors are a part of the Heera group family and will continue to be involved in its illustrious commercial history.
It is matter of proud and happiness for Dr.Nowhera Shaik and Heera Group of Companies that recently SFIO and Income Tax Valuation Department confirmed that Shaik will have to pay Rs 35 Crore to genuine Investors. The majority of Heera Group, both complainant and non-complainant, went to SFIO for the investigation earlier this year, but the decision was in Heera Group’s favour. The entire world will learn that Heera Group has done nothing illegal, as Dr. Nowhera Shaik once said. She frequently claimed that a group of individuals with political motivations were attempting to damage her reputation since her business, Heera Group, had been performing exceptionally well. But now that everything has been made clear, Heera Group has been found not guilty.