Nowhera Shaikh’s Heera Group Case: New details surface

Hyderabad: New shocking details surfaced in Heera Group case. Union Minister of State for Corporate Affairs, Mr. P.P. Chaudhary disclosed these details in Lok Sabha.

According to the report published in TOI, he said that in 2016-17, the SFIO probe was ordered against Heera Retail (Hyderabad) Limited, Heera Developers (Hyderabad) Private Limited, Heera Ice Drop Limited and Heera Foodex Private Limited. Later, in 2017-18, investigation was started against Heera Gold Exim Limited.

On the other hand, the CCS official said that Heera Retail, Heera Foodex, Heera Gold Exim was accepting deposits till the month of July, 2018.

Deposited started decreasing only from the month of May 2018 after the company stopped paying interest to investors.

The official also informed that initially, 164, later, 50 accounts of the companies were frozen.

It may be noted that the investigation stated Heera group started after Telangana Chief Secretary Mr. S K Joshi wrote to the Union Ministry of Corporate Affairs.