ED completes registration of seven Heera Group properties auctioned for ₹15.03 crore

The Enforcement Directorate (ED), Hyderabad Zonal Office, has completed the registration of seven immovable properties belonging to the Heera Group of Companies in favour of successful bidders following an auction that fetched ₹15.03 crore. The proceeds will be transferred to the Serious Fraud Investigation Office (SFIO) for disbursement to genuine claimants and victims of the alleged investment fraud.

The properties, including six flats at H.S. Royal in Shaikpet village, and a house at MLA Colony, Road No. 12, Banjara Hills, were auctioned on October 6 in accordance with directions issued by the Supreme Court.

According to an ED press release issued on Wednesday, the Supreme Court, through an order dated March 5, 2025, had permitted the agency to auction immovable properties attached in the money laundering case against Nowhera Shaik, the Heera Group of Companies and others to maximise the amount available for restitution to investors.