₹103 cr assets registered in Heera case, sale proceeds to reach claimants | Hyderabad News

Hyderabad: Enforcement Directorate has completed registration of nine auctioned properties for Rs 103 crore in the Nowhera Shaik-Heera Group case, with proceeds earmarked for restitution to genuine victims and claimants through the Serious Fraud Investigation Office (SFIO).The latest registrations cover Karvy Centre and Naina Towers at Banjara Hills in Hyderabad. The two immovable properties were registered on Oct 16 for a combined sale consideration of approximately Rs 88.2 crore, ED’s Hyderabad zonal office said.Proceeds to reach claimantsThese transactions follow the registration of seven properties on Oct 5, taking the total number of registered properties to nine. The auctions were conducted pursuant to Supreme Court directions in the case involving Nowhera Shaik, Heera Group of Companies and others.ED said the auction proceeds would be transferred to the SFIO for onward disbursement to genuine victims and claimants in accordance with the court’s directions. The agency will continue auctioning the remaining attached properties to facilitate restitution.The registration marks a step in the court-directed restitution process. Disbursement to claimants is to be undertaken through the SFIO after transfer of the auction proceeds.Rs 5,978 crore collected, ED allegesAccording to ED’s investigation under the Prevention of Money Laundering Act (PMLA), the accused entities collected investments exceeding Rs 5,978 crore from the public by promising annual returns of over 36%, but subsequently defaulted on repayments.The ED has issued five provisional attachment orders covering properties valued at Rs 428.83 crore. It has also filed prosecution complaints before the special PMLA court in Hyderabad in connection with the case.Nowhera Shaik, whose bail was cancelled by the Supreme Court, was apprehended by ED on May 21, 2026. She remains in judicial custody, the ED said.Further investigation in the money laundering case is under way, the ED said.