ED auctions 23 Heera Group properties worth ₹159 crore
HYDERABAD: The Directorate of Enforcement (ED), Hyderabad, has conducted the auction of 23 attached immovable properties belonging to accused Nowhera Shaik, the Heera Group of Companies and related entities, with a total value of about ₹159 crore.
The properties were auctioned through the Metal Scrap Trade Corporation Limited (MSTC), according to the Enforcement Directorate.
The auctioned assets comprise immovable properties attached during the course of the agency’s investigation against Nowhera Shaik, the Heera Group and associated entities.
The ED said the auction was carried out under the prescribed legal process after attachment of the properties in connection with the case. The assets were sold through the MSTC e-auction platform.
The action forms part of the Enforcement Directorate’s proceedings against Nowhera Shaik and entities linked to the Heera Group in an alleged money laundering case.
