HYDERABAD: A division bench of Telangana High Court on Tuesday directed the State government to submit status report about the cases registered against Heera group of companies with Nowhera Shaik as its managing director and chief executive officer, which had indulged in multi-crore investment fraud by collecting thousands of crores of rupees from the public with a promise of high monthly returns.
The bench was passing this order in a PIL filed by “Heera Group Victims Association”, represented by its president Shahbaz Ahmed Khan of the city seeking CBI probe into Heera group scam involving about Rs 50,000 crore and to return depositors monies. The petitioner’s counsel told the court that the registration of case by the State police was just an eyewash since nothing was done in the case till date.