The Directorate of Enforcement (ED) Hyderabad Zonal Office has auctioned an attached immovable property linked to accused Nowhera Shaik of the Heera Group of companies for ₹19.64 crore. 
The auction and subsequent registration in the buyer&rsquo;s name were completed before the Sub-Registrar&rsquo;s office on Friday, an official said.
The property was attached under a provisional attachment order issued on August 16, 2019. 
According to ED, the sale proceeds from the auction will be used for the restoration and restitution of funds to victims and investors who were allegedly defrauded by Shaik and her associates.
The successful registration of the auctioned property &ldquo;marks the completion of the auction process in respect of the said property and will pave the way for restitution of auction proceeds to the victims of the fraud in the future,&rdquo; the statement noted.
The ED is investigating Shaik and others under the Prevention of Money Laundering Act (PMLA), 2002, based on multiple FIRs filed by police in Telangana, Andhra Pradesh, and Kerala.
Investigations revealed that Shaik and her associates collected more than ₹5,978 crore from investors, allegedly promising returns of over 36% per year but failing to repay even the principal amount.
According to the ED, part of the proceeds of the alleged crime were used to acquire various immovable properties in the names of Shaik, her companies, and her relatives. 
Properties worth ₹428 crore have so far been attached, and both Prosecution Complaint and Supplementary Prosecution Complaint have been filed before the Special PMLA Court in Hyderabad.
&mdash;IANS

ED officials register auctioned property in Hyderabad

ED secures ₹19.64 cr through auction of asset linked to alleged Heera Group fraud

ED Sells Shaik-Linked Asset For ₹19.64 Cr

ED secures ₹19.64 cr through auction of asset linked to alleged Heera Group fraud

November 22, 2025 | 11:17 IST