Hyderabad: Refuting Nowhera Shaik’s contention that it has no authority to investigate the Heera Group of Companies, as the investigation was with the Serious Fraud Investigation Office (SFIO), the Telangana police told the High Court that it is concerned about 1.72 lakh depositors who have deposited a sum of Rs 5,600 crore in the Heera Group headed by Ms Shaik. “It is necessary to proceed with the case investigation to protect the interests of the victims,” the police noted in the counter affidavit filed before the court in the petition filed by Nowhera Shaik seeking to stay all further proceedings in the FIRs registered against her and the company in various police stations in the city and other parts of the state.
She urged the court to enlarge her on bail and to direct the authorities concerned to forward the complaints lodged against her by several depositors to the Serious Fraud Investigation Office (SFIO) as per the Companies Act, 2013, for probe.
The CCS police submitted in the affidavit that so far 85 properties have been identified pertaining to the accused and her companies and its directors and others present in the states of Telangana, Delhi, AP, Maharashtra, Kerala and Karnataka.
Proposals have been sent to the Telangana government for attachment of the properties and the latter has issued orders for attachment of certain immovable properties of the accused.
They police also said that a petition has been filed before the Nampally court for granting the orders for attachment as absolute and the same was pending.