Hyderabad: The Central Crime Station Police of Hyderabad arrested Nowhera’s son Abu Bakar from Rajiv Gandhi International Airport in connection to the money circulation case against the Heera Group Founder, Nowhera Shaik.
Abu Bakar is a resident of Hyderabad and is a shareholder of one of the Heera Group Of Companies. The CCS police arrested him believing that, he would have information regarding the financial activities of the company. Later, after questioning he was let off, said the police.
After analyzing about 70 bank accounts, the transactions were found to be amounting only 18 crore. More 90 accounts have to be checked, said a senior police official.
“The turnover as per Nowhera’s claims is several hundreds of crores, but the transactions did not match the claims. The Income Tax returns filed by the company and the details furnished to Registrar of Companies are also not matching. No records of income sources have been identified yet, but it has been clarified that foreign funding did not take place”, said the official.
More 2 fresh cases were received by the Cyberabad police against nowhere for cheating the investors. The hard disks found are being analyzed currently.
On Monday, Biju Thomas was given bail by Nampally court, who was arrested for providing support to the Heera Group.