SC Cancels Nowhera Sheikh’s Bail

Hyderabad: The Supreme Court on Friday cancelled the bail granted to Nowhera Sheikh, CEO of Heera Group as she has failed to comply with the court orders.

The apex court had on August 23 issued a final warning to her of either returning the money to the investors across the country or go to jail again. Nowhera is accused of collecting Rs 5600 crore from 1.72 lakh investors in the name of gold ponzi scheme. She was arrested in 2018 and granted interim bail on the condition that she would repay all her investors.