Judicial remand of Nowhera Shaikh extended up to Jan 25

Chittoor: District Court here on Friday extended the judicial remand of Nowhera Shaikh, who was arrested on charges of duping investors, to January 25. 

The CID police presented her today in the District Court after her remanded period ended. District Judge Ravindra Babu extended the remand further and sent her to judicial custody till January 25.

It may be recalled here that the accused Nowhera Shaikh, Chairman of Heera Group of Companies, facing charges of duping investors from whom she allegedly collected huge amount as deposits in the name of gold schemes and also offering high rate of returns (interests).

Shaikh belongs to Kotapalli village in Pulicherla mandal in Chittoor district. It is alleged that Nowhera Shaik through gold schemes and also multi-level marketing was able to collect more than Rs 8,000 crore from lakhs of depositors in many districts including her native Chittoor district.

Following complaints from investors who lodged complaint in many police stations after they failed to get their deposits back after the term was over, leading to the CID taking up the case. She was arrested and produced in Chittoor Court on January 3 and was sent to judicial custody till January 11.