Editor’s Note
The Supreme Court of India has ordered the auction of assets and a significant deposit from the main accused in the Heera Gold scam case, marking a key step in the ongoing asset recovery process.
The Supreme Court of India has directed the Enforcement Directorate (ED) to auction two properties linked to the high-profile Heera Gold scam case. The court has also ordered the main accused, Nowhera Sheikh, to deposit Rs 25 crores.
The Heera Gold case involves allegations of a large-scale financial fraud where the company, Heera Group of Companies, is accused of cheating investors by promising high returns on gold investments. The ED has been investigating the case under the Prevention of Money Laundering Act (PMLA).
The Supreme Court’s latest directive is part of ongoing efforts to recover funds for the defrauded investors. The properties to be auctioned are believed to have been acquired using the proceeds of the alleged scam.