New Delhi: The Supreme Court of India Tuesday granted bail to Heera Gold CEO Nowhera Shiakh.
Nowhera Shaikh was arrested in October 2018 by Hyderabad police. Later on, cases were filed against Nowhera Shaikh and Heera Gold in different states and by different people, mainly by investors.
The Supreme Court of India granted six weeks conditional bail to Nowhera Shaikh, her close aides present in the Supreme Court said.
Nowhera Shaikh got bail after she filed an affidavit stating her release from jail is necessory to return the money to investors.
According to the close aides of Nowhera Shaikh who ere present during the hearing Tuesday, an amount of 22 crore will be returned on priority basis in the next six months to the investors who had filed FIR against the Heera Gold CEO.
Nowhera Shaikh, Founder and Chairperson of Heera Gold, an investment and finance firm is accused of collecting money from thousands of Muslims from India and abroad in the name of "Halal Investment".
Nowhera Shaikh describes herself as an Entrepreneur, Businesswoman, Educationist, Human Rights and Women’s Rights Activist. Few months before the Karnakata assembly elections, she also launched a political party, All India Mahila Empowerment Party (AIMEP) in November 2017.
Her AIMEP launch in New Delhi in November 2017 was attended by stars like Sania Mirza, and cricketer Mohammad Azharuddin and actor Sunil Shetty were regulars in her programmes.
However, soon after 2018 Karnataka elections, Heera Gold stopped depositing "profits" into the accounts of "investors" citing one or the other reasons. The delay in the payment created panic among the investors, many of whom, even lodged police complaints in Hyderabad and various other states of India.
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