Hera Pheri Heera Group booked

​Hyderabad: Hyderabad police have arrested the key accused Nowhera Shaik of Heera Group of Companies for cheating people after collecting crores of rupees as deposits. According to City Police Commissioner Anjani Kumar, Nowhera Shaik is head of about 15 companies under different names under the Heera Group of companies. 

Many of the companies are involved in collection of deposits and investments in different forms and schemes. The companies committed a return of around 36 per cent per annum for the invested amount. Police suspect that the number of depositors could be in thousands in different states of the country.

The Police Commissioner said that a FIR has been registered against her in Banjara Hills Police Station and it has since then been transferred to CCS. Cases have been filed under Sections 406, 409, 420, 506 IPC, Sec 5 of Telangana Deposits of Financial Establishment Act 1999 and Sec 3, 4, 5 and 6 of The Prize Chits and Money Circulation Schemes (Banning) Act, 1978.

The CCS sleuths after finding incriminating evidences against Nowhera Shaik, who is the Managing Director of Heera Group of Companies, arrested her on Monday at New Delhi and brought her to Hyderabad on a transit remand issued by the MM Court No.609, Saket Court, New Delhi and she is produced before the XII ACMM Court, Nampally, Hyderabad. A case in CCS under Sections 420, 406 IPC r/w 34 IPC is already under investigation. 

The Police Commissioner said that cases have been booked against the said companies and individuals in the states of Andhra Pradesh and Karnataka. During the investigation, the police have found evidence of diversion of funds for purchase of assets in different names of individuals as well as companies. 

Many investors have not been paid their dues for last few months by accused companies. The main accused also made efforts to mislead the Police to avoid the investigation. The CP said that more than 160 bank accounts and different properties have been identified across India, details of which are being sought from the banks concerned.