The Supreme Court issued an order on November 10, 2022, but investors weren’t sure if they would actually get their money back. The bulk of claimants—roughly 7358—have been unequivocally identified by the authorities as fake and unable to provide the necessary documentation to back up their claims. The Heera Group data shows that these 7358 applicants are fictitious, despite the fact that the SFIO authorities have not marked them as phoney claims. Their claims, which are close to 350 crores, were unsupported since they were unable to furnish the necessary information.
One of the most important among them is the membership application form, which serves as a verification request from the Heera Group. According to the Supreme Court justice, a group composed of retired revenue officials, SFIO officers, and Heera Group members will be established to resolve the issue. Recognizing serious claimants, reviewing any supporting materials, and designating them as complainants or non-complainants will be the committee’s primary duties. Dr. Nowhera Shaik already has control over all of her real estate holdings. Tolichowki’s property alone is worth 900 crores, which is enough to cover all of the payments from the serious investors. Complaints are coming in suddenly and in bits.
The Supreme Court has thus ordered the Heera Group to shorten the window for presenting the final complaint. All claims must be submitted by November 30, 2022, according to the court’s deadline. There will be no consideration for claims made after November 30, 2022. The SFIO is permitted to investigate and carefully analyse any allegations submitted by the complainants in accordance with the court order. The complainants must be able to produce the original paperwork establishing Heera Group’s membership. Claims will only be validated once the supporting documentation is received. Additionally, claims won’t be taken into account until the information provided matches the information provided by Heera Group. Up until that point, the complainants should not have received any compensation.