Seven properties tied to the Nowhera Shaik–Heera Group matter were sold at auction by the Enforcement Directorate's Hyderabad zonal office, fetching around ₹15.03 crore in total, with those funds set aside under the Serious Fraud Investigation Office to be distributed among verified victims and claimants seeking restitution.
Six flats at HS Royal in Shaikpet village and a house on Road No. 12 at MLA Colony in Banjara Hills each passed into the hands of their respective top-offer purchasers through registration documents formalised on 6 October 2026. A Supreme Court directive dated 5 March 2025 had authorised the Enforcement Directorate to put attached immovable properties up for sale, with proceeds earmarked for compensating those harmed, and the auction carried out that mandate.
A bench sitting on 27 July 2026 handed down an order tasking the Telangana High Court's Registrar General with arranging for T Venkateshwar Rao, who holds the Registrar (Protocol) post, to step in and complete the property sale documentation on the petitioner-accused's behalf. All seven of those filings had been processed and recorded by the time the process concluded.
Funds raised through the sale will pass to SFIO, which has been directed by the Supreme Court to distribute them among those with verified claims or losses. The agency indicated that proceeds from selling off the seized assets still under its control would go toward compensating victims.
A money-laundering probe targeting Nowhera Shaik, the Heera Group of Companies, and associated parties was taken up by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002, drawing on a series of first information reports lodged with police across several states. Enforcement records indicate that Shaik, along with associates, drew in funds totalling more than ₹5,978 crore from retail investors, with those contributors offered annual returns upward of 36%.
Repayment of principal and the promised returns went unmet, leaving a broad pool of investors without the funds they had been owed. According to the enforcement body's filings, a portion of the funds traced to criminal activity were channelled into both movable and fixed assets registered under the names of Shaik, various Heera Group entities, and individuals connected to her through family or professional ties.
Five provisional attachment orders — together covering assets put at ₹428.83 crore — were drawn up, alongside both a prosecution complaint and a supplementary prosecution complaint lodged before the Special PMLA Court in Hyderabad.
On 8 April 2026, a ruling from the Supreme Court brought Shaik's bail to an end, with a seven-day window set for her to present herself to authorities. A non-bailable warrant was put out by the Special PMLA Court on 7 May, following her continued non-appearance before the proceedings.
Intelligence gathered by the Enforcement Directorate led to her location being identified in Gurugram, where she was taken into custody on 21 May through a coordinated effort with Haryana Police before being formally arrested under the terms of the warrant. Transported to Hyderabad and placed before the Special PMLA Judge, she was assigned to judicial custody, where she continues to be held. Investigators are continuing their work on the case.
