Hyderabad: Nowhera Shaikh, the Managing Director of Heera Group of Companies, in a sworn affidavit filed before the Metropolitan Sessions Judge in Hyderabad Saturday said that her company will return the deposits to investors in four installments in 16 months.
In the affidavit, Nowhera Shaikh further said that Heera Group, established 15 years ago, has been giving returns to investors regularly, and has no intention of cheating them.
“Nowhera has shown her intentions to the court and also to investors. Everyone was calling her a cheat, but a cheater won’t file a sworn affidavit in the court", Vineet Dhanda, the counsel for Heera Gold group, said.
In the affidavit, Shaikh said the investors who want to withdraw their money can apply using withdrawal forms of the company. She said 25% of the total amount invested by investors applying for withdrawal will be released every four months with the profit.
Nowhera Shaikh was arrested in New Delhi on October 15 and later taken into custody by Hyderabad police. She was granted bail on October 24. However, Mumbai police took her into its custody. She is now in judicial custody till December 13 2018.
In her affidavt, Nowhera Shaikh affirmed that the accounts of investors will be settled within a period of four months from the date of her release on regular bail, and from the date the company’s accounts are de-freezed.
She also added that during the raid, the CCS police had damaged all the software and computers, resulting the loss of investors list. But the company will pay to those investors who come to their office and file withdrawal forms.
The Heera Gold MD, Nowhera Shaikh in her affidavit, alleged that the All India Majlis-E-Ithehadul-Muslimeen (AIMIM) member of Parliament, Asaduddin Owaisi, hold a grudge against her, and is defaming her, which resulted in a cheating case against her in 2012 at CCS.
She told the court that she has floated a political outfit, Mahila Empowerment Party, and has contested elections in Karnataka, and since then has been a victim of political vendetta.
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