Heera Group case: ED registers seven auctioned properties worth ₹15 crore | Hyderabad News

Hyderabad: The Enforcement Directorate’s Hyderabad zonal office has completed registration of seven attached properties auctioned for approximately ₹15.03 crore in the Nowhera Shaik–Heera Group case, with the proceeds earmarked for restitution to genuine victims and claimants through the Serious Fraud Investigation Office (SFIO).The properties — six flats at HS Royal in Shaikpet village and a house at MLA Colony, Road No. 12, Banjara Hills — were registered in favour of the successful highest bidders (H-1) on Oct 6, 2026.Auction cleared by Supreme CourtThe auction followed a March 5, 2025 order by the Supreme Court allowing ED’s application to sell attached immovable properties to maximise realisation for restitution to victims.On July 27, 2026, the court directed the Telangana high court’s registrar general to depute T Venkateshwar Rao, registrar (protocol), to execute the sale deeds on behalf of the petitioner-accused. The seven registrations were completed accordingly.The auction proceeds will be transferred to SFIO for disbursement to genuine victims and claimants in accordance with the Supreme Court’s directions. ED said it would continue monetising the remaining attached properties for restitution.Over ₹5,978 crore collected: EDED initiated its investigation under the Prevention of Money Laundering Act (PMLA), 2002, against Nowhera Shaik, Heera Group of Companies and others based on multiple FIRs registered by police in different states.According to ED, Shaik and others collected investments exceeding ₹5,978 crore from the public by promising returns of more than 36% annually. The entities subsequently defaulted on repayment of principal and promised returns to a large number of investors.ED alleged that part of the proceeds of crime was used to acquire movable and immovable properties in the names of Shaik, Heera Group entities, her relatives and associates. It issued five provisional attachment orders covering properties valued at ₹428.83 crore and filed a prosecution complaint and supplementary prosecution complaint before Hyderabad’s special PMLA court.Shaik remains in custodyTaking serious note of Shaik’s conduct, the Supreme Court cancelled her bail on April 8, 2026, and ordered her surrender within a week. After she failed to comply, the special PMLA court issued a non-bailable warrant on May 7.Acting on intelligence inputs, ED traced and apprehended her in Gurugram on May 21 in a joint operation with Haryana Police and arrested her under the warrant. She was brought to Hyderabad, produced before the special PMLA judge and remanded to judicial custody, where she remains. Further investigation is underway.