Hyderabad: The Directorate of Enforcement (ED), Hyderabad Zonal Office, has successfully completed the registration of seven immovable properties, auctioned for a total consideration of Rs. 15.03 crore approximately, in favour of the successful H-1 bidders on October 6, 2026.
The properties comprise half a dozen flats at HS Royal, Shaikpet Village in Hyderabad and a house at MLA Colony on Road No. 12 in Banjara Hills. The auction was conducted pursuant to the directions of the Supreme Court.
Through its order dated March 5, 2025, the Supreme Court allowed the application filed by ED seeking permission to auction immovable properties attached in the case of Nowhera Shaik, Heera Group of Companies and others, with a view to maximizing realisation from the attached properties for restitution to the genuine claimants or victims.
Subsequently, through its order dated July 27, 2026, the Supreme Court directed the Registrar General, High Court for the State of Telangana, to depute T. Venkateshwar Rao, Registrar (Protocol) for execution of the sale deeds on behalf of the petitioner-accused.
Accordingly, the sale deeds in respect of the aforesaid seven properties have been duly registered in favour of the successful bidders. The ED investigation was initiated under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 against Nowhera Shaik, Heera Group of Companies and others on the basis of multiple FIRS registered by Police authorities in different States.
Investigation revealed that Nowhera Shaik and others had collected investments of more than Rs. 5.978 crore from the public by promising abnormally high retums of more than 36 per cent per annum.
However, the entities subsequently defaulted on repayment of the principal amounts and promised returns to a large number of investors. Investigation further revealed that part of the Proceeds of Crime so generated was utilized for acquisition of various movable and immovable properties in the names of Nowhera Shaik, Heera Group entities, her relatives and associates.
During the course of investigation, the ED has issued five Provisional Attachment Orders (PAOS), attaching properties valued at Rs. 428.83 crore under the provisions of PMLA, 2002. Prosecution Complaint and Supplementary Prosecution Complaint have also been filed before the Special Court under PMLA, Hyderabad.
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