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“The Enforcement Directorate (ED) has arrested Nowhera Shaik, premier accused successful the Heera Group linked alleged concern fraud lawsuit of Hyderabad, from Gurugram,” officials said connected Friday (May 22, 2026).
Ms. Shaik was arrested connected Thursday (May 21, 2026) successful a associated cognition conducted by the ED and the Haryana Police. The officials said she was surviving successful the metropolis nether a "fake individuality utilizing forged documents." The pistillate was taken to Hyderabad connected Friday (May 22, 2026) and produced earlier a peculiar Prevention of Money Laundering Act (PMLA) court.
They said Ms. Shaik was "evading" probe successful the lawsuit since her bail was cancelled by the Supreme Court recently. A peculiar PMLA tribunal successful Hyderabad issued a non-bailable warrant against her connected May 7 but she was not traceable astatine her Hyderabad address. “An quality input indicated she was successful Gurugram,” the officials said.
“Ms. Shaik, the Heera Group of Companies and others are alleged to person collected much than ₹5,978 crore from the nationalist with a committedness of returns of much than 36% per annum. They, however, failed to instrumentality adjacent the main magnitude thereby duping much than 1.72 lakh gullible investors to the tune of ₹3,000 crore,” the ED has said.
The ED had attached assets worthy ₹428 crore successful this lawsuit and had obtained a greenish awesome from the Supreme Court to auction these properties truthful that funds obtained from them tin beryllium restituted (restored) to the victims, a proviso disposable nether the PMLA.
Some of the properties were successfully auctioned fetching astir ₹122 crore, arsenic per the ED. However, Ms. Shaik failed to cooperate successful the execution of merchantability deeds successful favour of palmy bidders and made repeated attempts to obstruct the auction proceedings, it alleged.
