Hyderabad: In a follow-up to the money circulation scheme case registered against The Heera Group founder Nowhera Shaik, the Central Crime Station police of Hyderabad apprehended Nowhera’s son Abu Bakar at the Rajiv Gandhi International Airport. He was questioned and let off, said the police.
Abu Bakar, a resident of Hyderabad is a shareholder in one of The Heera Group of Companies belonging to Nowhera Shaik. Believing that Abu Bakar would have information regarding the financial activities of the company, the CCS police apprehended him and served him a notice to appear for questioning.
Meanwhile, the CCS police are making every effort to extract information regarding the transactions of the company and its income sources, which is all still in the dark.After analysing about 70 bank accounts, transactions amounting to only `18 crore were found. Another 90 accounts are yet to be checked, said a senior police official from the CCS.
“The turnover as per Nowhera’s claims is several hundreds of crores, but the transactions did not match the claims. The Income Tax returns filed by the company and the details furnished to Registrar of Companies are also not matching. No records of income sources have been identified yet, but it has been clarified that foreign funding did not take place", said the official.
Two fresh complaints have also been received by the Cyberabad police against Nowhera, who promised 36 per cent returns per annum and reportedly cheated the investors. The new cases will also be investigated by the Cyberabad police. The hard disks and other material seized from the head office of the company at Banjara Hills are being currently analysed.
Biju Thomas from Kerala, who was arrested for providing support to the Heera Group was given bail by the Nampally court on Monday....