Pune, Oct, 28, 2018: Since last few months the Heera Gold crisis has turned to be a financial plague for the minority Muslim community in India. The community is with a mixed feeling of response. People in India largely have complained from Telangana, Maharashtra, Andhra Pradesh, Karnataka, Kerala to name a few states. If we talk about the numbers, less than 1 % of the investors have walked the legal path and registered an FIR with the EOW. It is question as to why the community is silent if this is a financial crime. Do they still have a belief on the accused Heera Group or it is some other unidentified reasons that the people are silent. Another strange fact is that there is no clarity as yet to the financial status of the Heera Group. What is their total Assets and Liabilities? A question that is yet to be answered and supported by documented evidence.
Media reports from local, regional and vernacular press talk about over 300,000 Muslim community people as investors from India and in addition to this from UAE, Dubai, Saudi Arabia, Europe and North America. They further report that when investors have approached the Heera Group HQ in Hyderabad, they had to face bouncers. The office bearers and their entire sales network are absolutely keeping the investors in the dark and misguiding or being silent with no response.
Ms Nowhera Shaikh in a statement to the CCS at Hyderabad has put a value of near to 2500 corer as the Heera Group liabilities and dues to the Investors. Social media is gossiping this to be around 25000 corer and above.
The Heera Group (consortium of twenty companies with its headquarters at Hyderabad, with branches across India, UAE and other middle eastern countries) MD Ms Nowhera Shaikh was arrested in Delhi by Hyderabad police earlier this month. The court granted her a conditional bail at 5 corer, as the CCS Hyderabad could present only 10 recorded statements out of the close to 500 FIR registered. When Ms Nowhera Shaikh came out of the Hyderabad court she was arrested by the EOW Mumbai. Currently she is in Police Custody until Nov, 3, 2018 with the EOW Mumbai. Police teams from Andhra Pradesh, Karnataka and Kerala are waiting to take her in their custody for further investigation
Social groups and Hera Gold Victims association are helping investors in their time of need. Many investors are in financial crisis as their income from Heera Gold has stopped, for many this was the only source of income. Many are not filing complaint due to fear and the post complaint scenarios, or just maybe they believe that at some point of time if they are neutral to the development they will get their monies back! It is a wait and watch for such people.
It was also reported on social media that SEBI has marked Heera Gold investments scheme as Ponzi scheme. The Indian government legal departments are investigating the case even with the small number of complaints.
Will the community leaders, social leaders and local political presence take interest in the perils of the minority Muslim community and guide the people correct, for a resolution. We are to wait and see if the people will switch to making more complaints or will stay away and be silent….!
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