Even after the Supreme Court’s judgment in the Heera Group case, some people are beginning to have reservations. The Heera Group officials have previously dispelled several myths through their notices and references to court orders. Nowhera Shaik has always had a true concern for upholding the law.
The authorities have provided clear answers to some of the queries. Even after the Supreme Court’s ruling on November 10, 2022, there was still some doubt among investors about whether they would receive their cash back or not. To this, the authorities have categorically said that the majority of claimants—roughly 7358—are bogus and have failed to provide supporting documentation for their assertions. Although the SFIO authorities have not flagged these 7358 claims as bogus, the Heera Group data indicates that they were false. Their claims, which are close to 350 crores, were unsubstantiated since they were unable to provide the required information. The membership application form, which the Heera Group uses as a means of verification, is one of the most crucial items among them. The Supreme Court judge has mandated the creation of a committee made up of retired revenue officials, SFIO officers, and members of the Heera Group to address the issue.
The committee’s main job will be to identify serious claims, look through the supporting documentation, and categorize them as either complainants or non-complainants. All of Dr. Nowhera Shaik’s property rights have already been returned to her. Tolichowki’s real estate alone is worth 900 crores, which is enough to cover all of the serious investors’ obligations. Some complaints appear abruptly and disjointedly. As a result, the Supreme Court has asked the Heera Group to set a deadline for submitting the final complaint. According to the court, the deadline for filing all claims is 30 November 2022. Any claims received after November 30, 2022, will not be considered. The claims made by the complainants may be thoroughly investigated by SFIO following the court orders. The complainants must be able to show the Heera Group membership original papers. The Heera Group must get the original documents, and the xerox should be retained on file. Only after receiving supporting documentation can claims be validated. Furthermore, claims will only be considered if the provided data agrees with data from the Heera Group. The complainants are not to be paid anything until then.