Heera Group and Dr. Nowhera Sheikh pledge to stand firm on the law
New Delhi / Hyderabad (Report: Matiur Rehman Aziz) The Heera Group of Companies, while presenting its official position in the context of the ongoing legal matters and allegations, has said that the company has fully complied with all financial and legal requirements. This statement was issued under the leadership of Heera Group CEO and Managing Director, Dr. Nowhera Sheikh. According to the ongoing report, the company has claimed that all dues related to investors have been paid in full and payments have been made transparently through the banking system, especially RTGS. In this regard, bank statements, affidavits and other documents have been submitted to the relevant authorities and courts. The company clarified that there is no outstanding liability at this time. Heera Group, while shedding light on its business scope, said that it is active in over 45 locations through more than 40 entities, including Hyderabad, Mumbai, Bengaluru, Chennai and New Delhi. These activities include retail outlets, offices, business centres and jewellery-related businesses. Regarding the criminal charges, the company said that all the transactions were made under legal agreements and there was no element of malpractice or misrepresentation. Moreover, the company described its business activities as completely transparent.
Reacting to the Enforcement Directorate (ED) action, the company said that there is no existence and evidence of any proceeds of crime (proceeds of crime), and all financial transactions are traceable through the banking system. According to the company, the properties that have been seized are legitimate assets, many of which were voluntarily surrendered and disclosed as security. Heera Group has also expressed its determination to continue to fully cooperate with the legal process and adhere to its principles of transparency and accountability. Heera Group of Companies has further clarified and strengthened its position by issuing a detailed and formal statement in the context of the ongoing legal cases and various allegations against it. According to the company, it has not only been committed to transparency in all its business and financial affairs but has also made compliance with the law its top priority at every stage.
The statement was issued under the leadership of the company’s CEO and Managing Director, Dr. Nowhera Sheikh, which emphasized that Heera Group has fully settled all its financial liabilities, especially payments related to investors. The company claims that all payments have been made under an organized and transparent banking system, especially through reliable channels like RTGS, so that a clear record of every transaction is maintained. The report further states that bank statements, affidavits, and other important documents have been submitted to the relevant government agencies and courts to verify these payments and financial transactions. The company also reiterated that there are no outstanding financial liabilities or liabilities at present, and all claims have been fulfilled within the ambit of law. Highlighting its vast business scope, Heera Group said that it is providing its services through more than 40 entities across the country in more than 45 locations. These include major cities like Hyderabad, Mumbai, Bengaluru, Chennai, and New Delhi. The company’s activities include retail outlets, corporate offices, business centers, and various businesses in the jewellery sector, which reflect its stable and diversified business model. Regarding the criminal allegations, the company categorically denied the charges, saying that all its financial transactions were carried out under regular legal agreements and did not involve any kind of malpractice, fraud, or misrepresentation. According to the company, its business policies are based on transparency, integrity and full compliance with legal principles. Reacting to the actions taken by the Enforcement Directorate (ED), Hera Group took the stand that there is no concrete evidence of the so-called "Proceeds of Crime”. The company says that all its financial transactions have been carried out through the regular banking system, which can be easily traced. Moreover, the properties that have been seized are legitimate and legal assets of the company. The company also explained that many of these assets were voluntarily disclosed as security, in order to ensure transparency. Finally, Hera Group reiterated its commitment that it will continue to fully cooperate in all legal proceedings and maintain its faith in the judicial system. The company also emphasized that it will continue to conduct its business activities in a transparent, responsible and law-abiding manner in the future as well, and is committed to maintaining the trust of its investors and customers at all times.
