Heera Gold Scam : Supreme Court Directs ED To Auction Two Properties, Asks Nowhera Sheikh To Deposit Rs 25 Crores
1 month, 4 weeks ago

Heera Gold Scam : Supreme Court Directs ED To Auction Two Properties, Asks Nowhera Sheikh To Deposit Rs 25 Crores

Live Law  

The Supreme Court yesterday extended the period to surrender forf Nowhera Shaikh, the Managing Director of Heera Gold Exim Private Limited, to 3 months in a miscellaneous application filed in the main matter related to fraud and cheating of investors across the country. Apart from this, the Court has directed the Enforcement Directorate to auction 2 properties and pay 25 crores so that the investors' money could be paid back from the money recovered. Having regard to what has been stated in para.8 of the report filed by ED, we direct the petitioner to furnish complete details about all other properties free from encumbrance within period of 2 weeks.Once information on all those properties are furnished, ED shall proceed to put those to auction and try to recover the maximum amount.We direct the petitioner to deposit an amount of 25 crores within 3 months to ED. The specific part of the order in this regard stated: "Therefore, today we have made ourselves very clear that failure on the part of the accused to raise the necessary finance may entail the following consequences: The petition filed under Article 32 of the Constitution for clubbing of all the FIRs may be liable to be dismissed; The SFIO may be asked to proceed further in accordance with law; The bail granted by this Court may be liable to be cancelled; We may ask each State where the FIRs have been registered to investigate them in accordance with law; and We may also ask the Enforcement Directorate to proceed in accordance with law."

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History of this topic

ED attached properties worth ₹103.4 crore in ponzi scheme case
1 day, 19 hours ago

ED attached properties worth ₹103.4 crore in ponzi scheme case

The Hindu  

The Directorate of Enforcement, Hyderabad, provisionally attached 27 immovable properties having market value of ₹103.4 crore under the provisions of the Prevention of Money Laundering Act, 2002 in a ponzi scheme case related to Nowhera Shaik and Heera Group of Companies. The ED has been investigating money laundering case against Heera Group of Companies and their managing director Nowhera Shaik …

ED Retrieved Properties Worth Rs 14,131 Cr From Vijay Mallya, 1,052 Cr From Nirav Modi: Nirmala Sitharaman In Lok Sabha
3 weeks, 4 days ago

ED Retrieved Properties Worth Rs 14,131 Cr From Vijay Mallya, 1,052 Cr From Nirav Modi: Nirmala Sitharaman In Lok Sabha

ABP News  

Finance Minister Nirma Sitharaman on Tuesday said the Enforcement Directorate has successfully retrieved properties worth Rs 22,280 crores from economic offenders, including Rs 14,131 crore from Vijay Mallya and Rs 1,052 from Nirav Modi. In Vijay Mallya case, 14,131.6 crore has been recovered and the complete amount of the attached property has been restored to the public sector banks." "In …

Poll Panel Assures To Give ‘Nazari Naksha’ to BJP Candidate
10 months ago

Poll Panel Assures To Give ‘Nazari Naksha’ to BJP Candidate

Deccan Chronicle  

Hyderabad: A two-judge panel of the Telangana High Court on Wednesday recorded a statement of the Election Commission that it would give a copy of Nazari Naksha, which would be a map disclosing all households which fall within the boundaries of each polling station and the number of voters in each household to Konda Vishweshwar Reddy, BJP’s Chevella candidate, in …

Telangana HC advocates object Budvel land auction
1 year, 5 months ago

Telangana HC advocates object Budvel land auction

Deccan Chronicle  

HYDERABAD: Advocates from the Telangana High Court objected to the Telangana government’s proposal for the Hyderabad Metropolitan Development Agency to auction land in Budwel on August 10, saying some portion of it was meant for the construction of the new High Court building. Advocates recalled that about 15 years ago, the state government had said that the new High Court …

ED attaches 24 properties of Heera Group worth Rs.33 cr
1 year, 9 months ago

ED attaches 24 properties of Heera Group worth Rs.33 cr

Deccan Chronicle  

Hyderabad: The Enforcement Directorate attached 24 immovable properties of Nowhera Shaik and Heera Group, Hyderabad, worth Rs 33.06 crore under the provisions of the Prevention of Money Laundering Act, 2002 in a case related to alleged defrauding of people. The ED has been investigating a money laundering case against the Heera Group and Nowhera Shaik for cheating gullible people and …

Nowhera Sheik case: ED attaches Rs 78 crore worth properties
2 years ago

Nowhera Sheik case: ED attaches Rs 78 crore worth properties

Deccan Chronicle  

HYDERABAD: Officials from the Directorate of Enforcement, probing the money laundering case against Nowhera Sheik, attached movable and immovable assets worth Rs. Four years back, in 2018, the ED had registered a money laundering case against Nowhera Sheik and others who had collected more than Rs. 148 crore to SA Builders and Developers for purchasing properties in Tolichowki whereas properties …

ED attaches assets of JC Prabhakar
2 years, 1 month ago

ED attaches assets of JC Prabhakar

Deccan Chronicle  

ANATAPUR: The Enforcement Directorate on Wednesday attached the assets of former Tadipathri MLA and municipal chairman J.C. Prabhakar Reddy and his close aide C. Gopal Reddy in connection with the illegal registration of BS-III vehicles as BS-IV vehicles and violation of Supreme Court Orders. ED attached assets worth Rs 22.10 crore of Prabhakar Reddy and Gopal Reddy of Tadipathri in …

Hyderabad: Over 1,000 cos under ED probe for stash
5 years, 4 months ago

Hyderabad: Over 1,000 cos under ED probe for stash

Deccan Chronicle  

Hyderabad: Some 1,100 companies are under investigation by the Enforcement Directorate, including several from Telangana State that have been booked for money laundering. When Opposition parties questioned the ministry of finance on the measures taken to thwart fugitives, citing the example of Nirav Modi, Union minister of state for finance Anurag Singh Thakur informed Parliament that “Whenever there is an …

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