HYDERABAD: Nowhera Shaik, MD of Heera Gold Exim Pvt Ltd, was reportedly arrested by the Hyderabad zonal unit of the Enforcement Directorate in Bhubaneswar, on Tuesday.
Shaik is reportedly facing serious allegations of duping lakhs of investors in a gold investment scam amounting to approximately Rs 5,600 crore.
According to agency sources, the SC had earlier directed her to repay Rs 25 crore to investors within three months. This directive, issued in March 2025, stated that failure to comply would result in her arrest.
Sources claim that Shaik failed to deposit the amount within the court-mandated timeframe. Acting on the court’s orders, ED officials detained her.