The Supreme Court has directed Nowhera Shaik, the founder of Heera Gold, to deposit ₹25 crore within 90 days. The order comes as part of ongoing legal proceedings against her in connection with alleged financial irregularities linked to the multi-crore Ponzi scheme case.
The apex court’s decision is seen as a major step in ensuring justice for thousands of investors who claim to have lost their money in the scheme. The Enforcement Directorate and other investigative agencies have been probing Heera Gold for alleged money laundering and fraudulent business practices.
Legal experts suggest that failure to comply with the order could lead to stricter legal action against Nowhera Shaik. Investor groups have welcomed the ruling, hoping for a resolution to their financial losses.
