School Dropout Nowhera Shaikh of Heera Gold Used Ulema to Dupe Investors of Crores 

2
4019
Nowhera Shaikh, Managing Director of Heera Group of Companies

Caravan News

HYDERABAD — The turnover of Nowhera Shaikh’s company Heera Gold was Rs 27 lakh between 2010-11 — the year she started the firm in her hometown Tirupati — but in 2017-18, the turnover increased to Rs 800 crore and the company was standing in several continents. How? After her arrest this Tuesday, the answer is coming out bit by bit. The latest revelation is that the school dropout Nowhera Shaikh used services of some Ulema and got ‘certificate’ of ‘Halal business’ from them to  lure susceptible rich Muslims.

Some duped investors have told the police that they made huge investments with the Heera Group based on the statements of the Ulema.

“An investor, Mr Mohammed Abdul Majeed, whose statement was recorded by the Central Crime Station as a witness, said that he was inspired by the Islamic talks and halal trading in the name of Islamic Shariah by Ms Nowhera Shaikh, Moulana Arshad Basheer Madani, Mr Aqil from Jeddah, Moulana Meraj Rabbani of Uttar Pradesh, Moulana Jalaluddin Qasmi and Ms Shahnaz of Mumbai,” says a report in Deccan Chronicle.

The Heera Group, a consortium of 15 companies, would lure investors with promise of huge halal profits and to convince them, it would show the patronage of Ulema.

Further police probe will clear if the Ulema were also cheated by the woman to issue ‘Halal’ certificates or they did so in lieu of money.

Majeed claimed he had invested Rs 28 lakh with Heera Retail, Hyderabad Pvt Ltd and Rs 2.5 lakh in Heera Gold Exim Ltd.

Nowhera Shaikh’s firms would promise investors that they would get 36% interest per year for every 1 lakh rupees they invest. She initially gave the promised money to some investors, only to allegedly cheat them later.

According to Hyderabad police, to evade suspicion, Nowhera had floated 15 companies under different names and cheated investors estimated to the tune of Rs 1000 crores.

According to Sakshi, Nowhera’s parents in Tirupati were vegetable sellers. Though she had not completed school, she has a prefix of ‘Dr’. Resident of Tirupati, Nowhera settled down at Banjara Hills in Hyderabad. She started her venture Heera Group of Companies by collecting deposits in 2010. Today she has her business in several countries like China, Canada, Dubai and states like Maharashtra, Karnataka, Tamil Nadu, West Bengal, Telangana, Andhra Pradesh and Rajasthan.

Last year she had formed a political party by the name of All India Mahila Empowerment Party and unsuccessfully contested the Karnataka Assembly elections in May this year.

ALSO READ:

Heera Gold Chairperson Nowhera Shaikh Arrested in Delhi

2 COMMENTS

  1. I am also an Heera Gold investor from 2012. We have promptly received payment and have personally investigated and visited all her businesses. She is a genuine person and all businesses are legitimate. I request all investors to keep some patience and support Nowhera Aapa. When you run or own a business you will see up and down. InshaAllah Heera Gold will start running and all problems will be solved. Just keep patience and have a trust in Nowhera Aapa.

  2. Interesting to note Mr. Riaz has visited all her businesses. Can he really assure that he has visited Heera textiles, Heera Granites, Heera Pure Drops, Heera Gold Processing. Unbelievable. This seems to be a part of confidence tricks.

    There are more questions Riaz should respond to and also understand how Heera is 100& Ponzi scheme as declared by SEBI and other experts.

    Short videos explain PONZI scheme. Must be seen for wider knowledge of everyone.

    https://www.investopedia.com/video/play/what-is-a-ponzi-scheme/

    https://www.youtube.com/watch?v=m56_9Q2oCAk

    https://www.youtube.com/watch?v=VXRkfqw67GE https://www.youtube.com/watch?v=zZ6p_JgjpbI

    https://www.youtube.com/watch?v=1bjEVI02KR0

    Questions to be answered by Heera & Nowhera
    1. Who are three senior-most Management team members of all 19 companies and their contact details.
    2. What are the physical locations of Heera Granites, Heera Gold ( Ghana), Heera Textiles, Heera Pure Drops? It is reported by Heera that these companies are closed.
    3. Where is the Gold processing done, where is the physical gold held in safe custody?
    4. Nowhera mentioned very emphatically in AGM in Mumbai in 2016 that she can buy and sell Gold in big quantities in a single minute online. This is a clear clue that she was not processing any gold but only speculating online and taking up extreme risks. She must produce full statements of activity on online Gold trading. This may show huge losses as she is not educated and neither has she experts to conduct the business.
    5. In 2008 when Nowhera first established companies, how was she able to pay benefit from the first month itself?
    6. Why is she not able to show Annual reports in AGMs and on their website?
    7. Why is she unable to pay Income Tax?
    8. Why are some companies not registered with Registrar of companies? Are they so small that they can be considered petty Grocery shops that a Municipal License is enough?
    9. She is the only authorized signatory of all cheques. She must be solely responsible for all the transactions. She can sign cheques wherever she is.
    10. Has she got a Government license to import and export Gold?
    11. Who are Heera’s Auditors? Have they audited Annual accounts of any of Heera Group companies?
    12. Nowhera has been saying that Bank rules have changed. This is not backed by any circular, online screenshots or letters from a single bank. We are all users of online bank transfers either in personal or commercial or official capacities and we did not find any changes.
    13. She is reported to have 43 properties so far. Are they all registered in her personal name. The investors give the money to Heera companies for investment. Is it legal to purchase properties in personal name with funds of the companies?
    14. How much GST she paid in 2018 in different companies. Are they the same companies which are paying benefits to investors? What is the real problem she faced with GST.

LEAVE A REPLY

Please enter your comment!
Please enter your name here