Nowhera Shai, the CEO and Managing Director of Heera Group of Companies, on Saturday, said the company was ready to repay its investors and those who wished to retain their investments in the group, can choose to do so.
Addressing a press conference here in the city, her first after being released on bain granted by the Supreme Court, Nowhera Shaik said the Heera Group held assets worth 5000 Crore in Telangana State and these would be more than sufficient to pay back the investors.
It may be recalled that Heera Group of Companies and Nowhera Shaik have been under a cloud ever since her arrest in 20158 for allegedly running a Ponzi Scheme. The Supreme Court, While Granding her bail, said it was conditional to the company paying back its investors.
She alleged at the press conference that troubles for her company began after Hyderabad Mp Asaduddin Owaisi and some of his associates began filing false frivolous cases against me and my company. She said the first of such cases was filed against her at the Central Crime Station in Hyderabad in 2012 and into 2018 when she was arrested.
She alleged a land parcel that belonged to her company in Tolichowki and was attached during the investigations by the enforcement directorate, was illegally occupied by some followers of the Hyderabad MP. A Seven storey building has been built on that land while it was under ED Attachment, this shows how powerful the people who tried to bring me down are she said.
Claiming that the business she ran was legitimate, she said all the data with respect to her company’s investors were with the Hyderabad police which has to return the same to her company. Once we get the data center-back, then we will be able to verify details and pay everyone back, She said.