A group of investors from the city, who had collectively invested crores of rupees in the Heera Group of companies, approached the city economic offences wing (EOW), with a complaint they had been conned. An inquiry has been initiated into the matter.
The investors met DCP Parag Manere who handed over their application to the EOW's intelligence unit.
Hyderabad police arrested Nowhera Shaikh, managing director of Heera Group of companies and founder of All-India Mahila Empowerment Party, on Tuesday after a cheating case was registered.
The Heera Group ran 15 different companies. Most investors are Muslims as the company claimed it was conducting business based on Islamic Sharia rules.
TOP COMMENT
sab Paise ke Laalchi log hi yeh scheme mein fasey hoge jinke pass idhar udhar ka Paisa hai.faaltu Paise hai toh gareeb ki madat Karo aise logon ko doge toh yehi hoga..
Arif Siraj
Social activist Adil Khatri approached Mumbai, Thane and Navi Mumbai police and the enforcement directorate and ministry of corporate affairs seeking a wider probe. "Investors had put in money in the Heera Group so that they could plan a Haj or a daughter's wedding with the high returns promised. However, they have been left high and dry," said Khatri.
There are more than two lakh investors in companies floated by Shaikh. The firm, which promised returns as high as 36%, stopped payments in May-June.
The investors met DCP Parag Manere who handed over their application to the EOW's intelligence unit.
Hyderabad police arrested Nowhera Shaikh, managing director of Heera Group of companies and founder of All-India Mahila Empowerment Party, on Tuesday after a cheating case was registered.
The Heera Group ran 15 different companies. Most investors are Muslims as the company claimed it was conducting business based on Islamic Sharia rules.
TOP COMMENT
sab Paise ke Laalchi log hi yeh scheme mein fasey hoge jinke pass idhar udhar ka Paisa hai.faaltu Paise hai toh gareeb ki madat Karo aise logon ko doge toh yehi hoga..
Arif Siraj
Social activist Adil Khatri approached Mumbai, Thane and Navi Mumbai police and the enforcement directorate and ministry of corporate affairs seeking a wider probe. "Investors had put in money in the Heera Group so that they could plan a Haj or a daughter's wedding with the high returns promised. However, they have been left high and dry," said Khatri.
There are more than two lakh investors in companies floated by Shaikh. The firm, which promised returns as high as 36%, stopped payments in May-June.
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