Nowhera Sheikh faces new police case in Hyderabad over Heera Group cheating allegations

Hyderabad: Nowhera Sheikh now faces a fresh cheating case after Banjara Hills police registered an FIR based on a complaint alleging fraud in Heera Group’s investment schemes. Complainant Mohammad Salma Fatima of Hyderabad Sun City stated that she invested ₹40 lakh in 2016 and that her family members also made substantial deposits. She said the group stopped making payments in 2018, prompting her to seek legal action. Police booked Heera Group CEO and MD Nowhera Sheikh under cheating provisions.

Sheikh already comes under sustained enforcement scrutiny. On November 21, the Enforcement Directorate auctioned fixed assets worth ₹19.64 crore linked to her. The agency said the Heera Group lured investors with claims of 36 percent annual returns and collected ₹5,978 crore from depositors. Officials said the company failed to return principal amounts or interest to thousands of investors.

ED actions continue against Nowhera Sheikh

The ED earlier seized assets valued at ₹428 crore belonging to the Heera Group. Officials said they have auctioned company properties worth ₹93.63 crore so far. They added that auction proceeds would be directed to investors who lost money in the scheme.