‘Party’ Over? Property Worth Rs 100 Crore Of Mahila Empowerment Party Chief To Be Confiscated By Hyderabad Police

Heera Group Chief Nowhera Shaik’s Rs 100 crore worth properties will be confiscated by the Central Crime Station personnel in Hyderabad, reports Deccan Chronicle.

Shaikh is the founder & President of the All India Mahila Empowerment Party and the founder and CEO of the Heera Group. The CCS personnel are probing the case against the company under money laundering laws.

The company had promised its investors around 36 per cent of its profits. The company claims to have been involved in gold mining, textile production, and also gold and jewellery sale.

The police have sought permission to proceed in the confiscation of the properties spread across Telangana, Andhra Pradesh, Maharashtra, Karnataka and Delhi, where the group did most of its business and collected money from people towards investments in its subsidiary companies.

“As Nowhera Shaik and her associates are reluctant to disclose details of the operations held by the companies and also the properties, investigators have sought the help of the Stamps and Registration department of various states. They are estimated to be about Rs 100 crore,” a source said.

He also said that the properties are located at Banjara Hills and Tolichowki in Hyderabad, Chittoor district in Andhra Pradesh, Delhi, Pune and Mumbai in Maharashtra and Bengaluru in Karnataka.