Heera Gold founder Nowhera Shaikh walks out from Mumbai jail

Mumbai: Three days after the Supreme Court of India granted conditional bail, the Heera Gold Founder and CEO Nowhera Shaikh on Friday walked out of Byculla Jail in Mumbai.

The Apex court order and her release from the jail evoked mixed response after her supporters and investors too were spotted near the By-culla jail to welcome her.

In October 2018, Nowhera Shaikh, Founder and Chairperson of Heera Gold, an investment and finance firm was arrested by the Hyderabad Crime Branch for allegedly collecting money from thousands of Muslims from India and abroad in the name of high dividends. Police of other states too had arrested her for allegedly cheating the investors.

Immediately after the release, Nowhera Shaikh issued a statement through selfie video in which she thanked everyone who stood by her during the crucial times. She has also expressed confidence in working in the interest of the investors.

Conditional Bail

The Supreme Court of India had on Tuesday granted six-week conditional bail to Nowhera Shaikh. The court has asked Nowhera Shaikh to return money to investors, on priority basis to those who had filed complaint against her.

Her close aides said Nowhera Shaikh is all set to release about 22 crore rupees to the investors who lost faith in her and lodged FIR against her that led to he arrest in October 2018.

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